Fundamentally speaking, however, the company has done anything but deteriorate over the past year. With no net debt and over $100 million in cash sitting on the balance sheet, the financials remain clean. During the quarter, the company disposed of its low-margins ISP business and further demonstrated the strength of its Everest poker brand; for the second year in row, it was awarded the Poker Operation of the year by eGaming Review. More importantly, cross-selling effects in the gaming software business began emerging, as roughly half of the new active real-money casino players were existing poker players. This led to 51% casino revenue growth (a highlight of the press release) and displays the extent to which management can continue to leverage the brand.
