There’s no point in panicking in a crisis, as a trigger finger and the smell of soiled pants do little to instil confidence in the market. But then neither does using the word “transitional” when trying to explain your Q1 losses. ‘We have players with potential’ and ‘it was a transitional year’ are the sort of phrases Arsenal have trotting out season after season to explain why they haven’t won a trophy over the last five years. It’s football speak for, ‘we fucked up again’. And yet bingo provider Parlay Entertainment seems to have learned nothing from the Gunners’ travails. The net loss of $0.5m for the first quarter of 2010 is put down to 2009 being “a transitional year for Parlay in that we invested significant financial and human capital resources in the development of our Alderney and North American gaming platforms.” Right… But they do have players with potential: “We are optimistic that 2010 will see continued improvements to revenue.” Oh dear. Read more.
