Parlay Losses Leave Question Marks
One of Canada's most successful business groups is Parlay Entertainment, the Ontario based firm that created one of the best bingo platforms in the industry.
At the height of its success, Parlay Entertainment supplied some of the biggest names in the business with bingo and casino software.
Yet the combination of poor financial performance and the loss of several of its main partners has left a question mark hanging over the direction of Parlay Entertainment, and whether the group should rethink its operation strategy.
Parlay Entertainment has already notched up a number of big losses, including Paddy Power Bingo and Virgin Bingo.
However, its most significant loss came earlier this month with the news that St Minver would be moving all its bingo sites in the Independent Bingo Network to the G2 bingo platform.
In a bid to downplay the damage caused by the latest move, the head of Parlay Entertainment, Scott White, said that the loss would have "no material impact" on the group.
"St Minver is presently one of Parlay's smallest customers," he said.
However, losing 80 bingo sites, however small they may be, is nothing to make mockery of and the question remains whether this is the beginning of a trend that will leave Parlay Entertainment without big licensees, or simply a hiccup on the greater screen.
On the flip side, earlier this month, Parlay signed on three new providers to its Parlay Game Services managed solution platform.
The platform is an excellent tool that allows casinos to control their remote gaming and registration, verification and banking services.
"These new customers, and the level of interest we are seeing from our customers and new prospects, validates the expansion of our business model into this value added services offering," said White.
