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The gaming market is showing signs of stabilizing following a sharp downturn in gambling during the economic recession that restricted consumer spending and prevented casinos from purchasing new games.
Casino game developers have begun releasing their first quarter 2010 financial earnings this week, finally able to report an upswing in profits.
WMS Industries reported that for the quarter ending March 31 profit rose to $33 million from $24.4 million in the same period a year earlier.
Revenue for WMS rose 9.2% to $197.5 million while sales of machines grew by 8.7% and the average selling price increased 8%. WMS also reported that shipments of new units rose 3%.
Rival International Game Technology’s also reported an increase of 6.8 % to $35.9 million in profit due to higher sales, up from $33.6 million a year earlier.
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