Fresh from its announcement that it will participate in a joint venture with online bingo games software developer Parlay Entertainment to launch an online bingo network, Chartwell Technology has reported a respectable 26% growth in its revenues for the second quarter.

“The second quarter was an excellent one for Chartwell” said Alan Richter, CFO of Chartwell. “We’ve added licensees, deployed 13 new casino games and completed development on four more. We have made additional investments in the services we provide to our customers, and we are accomplishing all of this while controlling our expenses and thereby improving all of our key financial metrics.”

Chartwell continues to post a strong balance sheet reflecting positive cash flow and working capital. As of April 30, Chartwell boasted $18.8 million of cash and short-term investments compared to $15.1 million last October

Parlay Entertainment, a developer of bingo online games software, has joined with Chartwell Technology to start a new online bingo network.  The network will combine Chartwell’s back-end administration system with Parlay’s front-end bingo online products.

Parlay have now made over fifty direct license deals with many online bingo halls utilizing the company’s popular online bingo software.

Scott White, President and CEO of Parlay Entertainment, said:  “This is a huge win for licensees and bingo players alike.  By combining the strengths of Parlay’s industry-leading bingo games with Chartwell’s advanced administration system and network operations expertise, we’re creating a very compelling bingo network solution.  Player excitement will grow exponentially as bingo sites pool their liquidity to create bigger games, huge jackpots and lively communities.”