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Excapsa continues exploration of new properties

The Chief Executive Offier of Excapsa Software, Inc., an online gaming company, has expressed that he has remained confident that the company will continue to follow its intent to acquire a casinos software developer after it has posted positive interim results.CEO Jim Ryan has indicated in an interview conducted by the Reuters News Agency that the company will actively pursue the plan to buy a casino software developer as a way of helping it diversify its current offerings. The decision comes following the company floatation on the Alternative Investment Market in February of this year. Another factor that led to the new direction for the company is the announcement of pretax profits worth around $16.8 million for the six months to the end of June. This is a marked contrast to the loss the company suffered a year ago that totaled $431,000.

The company’s turnaround in performance occurred after it was able to renegotiate a licensing deal for poker software with eWorld, the operator UltimateBet.com. Based on the proforma figures that calculates figures for 2005 had the deal been in place for a full year, Excapsa would have been able to post a 27 per cent increase in net income.

Ryan has continued to mention the intention of Excapsa to form a new online blackjack tournament in the third quarter of the year following in the heels of the newly launched mobile phone capable poker games.

The shares in Excapsa increased to 1.6 per cent to 62 ½ based on midday trading. This has put the value of the company somewhere around £124 million.