“Chartwell strides forward in the goal of new Online Gaming Ventures”

The Canadian-based online gambling software company Chartwell Technology Inc., has targeted the wireless gambling market for its prepared entry. Wireless gambling will be an additional technology for Chartwell, which will be a supplement to their primary technologies and business paradigm to-date.

In a conference call to analysts, Chartwell Technologies’ Darold Parken claimed that the company intends to remain concentrating on what and how has already been accomplished, as they feel completely sure that their technologies and business paradigm used for utilizing them remain the Internet gambling’s future. However, Parken maintains that this does not indicate that the company will not attempt innovative activities as they are very conscious of the seminal phenomenal expansion of possibilities such as poker, kiosk gambling and bingo, and that in these fields large sums are being invested.

The latest explosion in the poker’s popularity, due partly to poker contests broadcasted on television, has created a windfall for online gambling, where until not too long ago the well-established casino games such as roulette, craps and blackjack provided the basic staple of the industry of Internet gambling.

Online bingo’s growing popularity has also been monitored closely by analysts, making a lot of them to predict that the next upsurge of online gambling will be in the field of bingo. According to Parken, a number of sources have been forecasting that the future Internet poker is going to be online bingo. Parken adds that if the option should present itself, and Parken would like that to be so, then his company is preparing itself to profit from it.

Chartwell is providing technology for mobile phones to use and simplify cell phones for betting over the Internet, which is also becoming a popular market. This is one of the finest looking gaming features, according to Parken, can currently be found on cell phones. He further adds that the problem they are now researching is the way to best work out the most economical exploitation of the application. Mainly because of technological and legal issues, there are yet hurdles to jump over in regard to gambling by mobile phones prior to the concept evolving into a main market sector.

A gigantic leap from five billion dollars in the current year to fourteen billion dollars in income is forecasted for the year 2006, so that the general evaluations for the Internet gambling industry are simply amazing, when you consider that thirty million dollars only were the income in 1996.

In the same year 2004, Chartwell announced that the assets of the company rose from eleven point eight million to twenty nine point three million dollars. The company’s shares fell seventy cents after a sixty cents rise. In the last quarter, the company announced that revenues had risen but profits had dropped. Furthermore, in comparison to $964,000 in the same 2004 period, Chartwell announced furthermore, that it had revenues of $934,000 or the worth of five cents for each diluted share for the period of three months ending at the end of April. From two point nine million dollars, the entire quarterly income increased to almost three point nine million dollars.