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The Canadian online gaming company Excapsa Software Inc. remains intent on buying a casino software developer after swinging into the black with its interim results, reports Reuters.
Jim Ryan, Chief Executive, told the news service in an interview this week: “We are actively pursuing casino software - we would like to buy a casino software developer so we can extend our offering.”
Excapsa, which is listed on London's AIM exchange, has made a dramatic turn around. The company posted pre-tax net income of $16.8 million for the six months to the end of June after reporting a loss of $431,000 a year ago. The change in fortunes came after Excapsa renegotiated a licensing deal for poker software with eWorld, operator of UltimateBet.com.
Based on proforma figures, which calculate 2005's figures as though the deal been in place for the full year, the company posted a 27 percent rise in net income.
Ryan said he did not expect the U.S. court action against former BetonSports Chief Executive David Carruthers to have a long-term impact on the sector. “We are quite bullish and optimistic that the U.S. anti-online gambling legislation will not pass in this session of Congress,” he said.
The Canadian CEO said Excapsa intends launching an online blackjack tournament in the third quarter. This follows the recent launch of poker games that can be played on mobile phones.
Ryan believes the U.S. will seek to increase legislation to control online gaming instead of seeking to ban it completely.
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