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Boss Media's profits in decline

Swedish company Boss Media (BM), which designs gambling software for online casinos, has seen a fall in its profits.

BM announced that its third-quarter profits have fallen from last year by just under $1 million, from $2.81 million to $1.84 million.

It said that despite a loss in income, the online gaming industry was continuing to do well, Online Casino News (OCN) reported.

The company believe that bingo is the fastest growing sector of internet gambling, but that poker appears to be the division which will see continued growth in the long-term.

BM's revenue from royalties dropped from $28.92 million to $26.6 million during 2007, while sales have also gone down from $36.36 million to $36.23 million.

OCN called it a "bad quarter" for BM, a company which focuses upon developing casino, poker and bingo software for the internet gambling market.

Since 1999 BM has been listed on the Swedish stock exchange.