It started off as an ISP and then migrated into the content business, primarily adult entertainment. From there, it acquired and developed Internet gaming software through its offshore operations in Antigua, where the Internet-gaming aspect of the company was run. Starnet Communications International Inc. Since then, the company s Internet gaming software development business grew rapidly so the company sold the adult entertainment business in April 2000. More and more important now for almost all Internet companies is profitability, or the potential for profits. This is one of the appealing aspects of the Internet gaming industry.
Revenues are already substantial and growing at a healthy rate.
Some of our competitors are already profitable and with our new software product line nearing completion and our legal issues almost behind us, long-term profitability is just around the corner for Starnet as well. The company is in the process of rolling out a new generation of software that it s been developing over the last 12 months. The new software will be available to all of our licensees and should be able to compete with any of the existing Internet casino software on the market. That will be a big focus of the company, and it will certainly be expected to help grow the company as it attracts new licensees and provides existing licensees with newer software to compete with. All the projections for the industry call for continued significant growth as more players gain comfort with the industry and more land-based operators enter the market place.