Software Development Source Being Sought After by Canadian Group

Excapsa Software Inc., the online gambling website company has shown substanial profits according to its midyear results and Reuters reports that the company is looking to buy a casino software concern.

Jim Ryan, the company’s CEO, told Reuters this week that the company is aggressively seeking after a casino software concern. He says that they are looking to purchase a software developer when the right one appears.

Although the company reported a loss last year of $431,000, things are lgg up for the gaming operation this year as profits are soaring to $16.8 million in pre-tax income.

It seems that things changed for the website operator after they renegotiated a licensing arrangement regarding poker software, with eWorld, the company that operates UltimateBet.com.  According to proforma figures, a calculation that assumes 2005's figures as if the agreement had been in force for a complete year, the company’s posted rise in income would have been 27% of net income.

CEO Ryan stated that he did not think that the United States government action against David Carruthers, the former chief executive of BetonSports, would have an extended effect on the industry, and said that his company was very optimistic that U.S. anti-gambling legislation would not be posed during the present Congressional session. He believes that the U.S. government will try to curtail online gambling but not ban it altogether.

During the recent launching of online poker games that can be played by mobile phone, Ryan says that in the third quarter the company will probably initiate an online blackjack tournament.

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