According to a Reuters report, gaming company Excapsa Software is searching for a casino software developer since experiencing a financial turnaround that took it out of the red and into the black.

In an interview this week with Reuters, Excapsa’s Chief Executive, Jim Ryan explained: "We are actively pursuing casino software - we would like to buy a casino software developer and extend our offering."

Excapsa, which is listed on London’s AIM exchange, has seen its financial situation improve considerably. After a loss of $431,000 one year ago, the company posted a pre-tax net income of $16.8 million for the six months to the end of June.

The improved financial situation is a result of a renegotiated licensing deal for poker software with eWorld. eWorld is the operator of UltimateBet.com. Based on proforma figures, which calculate 2005's figures had the deal been in place for the full year, the company posted a 27 percent rise in net income.

Commenting on the U.S. court action against former BetonSports CEO David Carruthers, Ryan said that he did not expect it to have a long-term impact on the sector: “We are quite bullish and optimistic the [U.S. anti-online gambling] legislation will not pass in this session of Congress”. Ryan also believes that the U.S., rather than seek to ban online gaming altogether, will instead end up increasing legislation intended to control online gaming.

Ryan, who is Canadian, said Excapsa plans on launching an online blackjack tournament in the third quarter. The launch of the blackjack tournament will follow on the heels of the recent launch of poker games that can be played on mobile phones.

Posted on: August 27, 2006

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