Lasseters Expecting a A$6.36 Million Loss

Veteran Australian online casino operator Lasseters Corporation had bad news for its investors this week, announcing in a trading update that it expects to make a loss of A$6.36 million when it delivers its results for the full year ended June 30, 2008 on August 29th.

The results reflect the full year costs of operating the start-up business of Lasseters Sportsbook, which include the costs of replacing US online revenues with business from Asia and Europe, and also include reduced revenues from the company's online casino operations due to “delays in the implementation of new games.”

Moreover, says the announcement, the statement refers to “significant” one-off adjustments for the write-off of unspecified historical deferred tax asset balances, and the impairment of the online casino gaming license and associated product development costs.

Lasseter’s gaming servers are housed in Lasseters Hotel Casino in central Australia, a gambling venue that has been in operation since 1981.

Lasseters Online is a wholly owned subsidiary of Lasseters Corporation - a public company listed on the Australian Stock Exchange and licensed and regulated by the Australian Northern Territory Government.

Lasseters is powered by Orbis Openbet software.

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