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Red Tiger

Tangelo Games struggles to repay debt despite revenue growth

3rd May 2017 6:51 am GMT

Toronto-listed social casino operator Tangelo Games (formerly Imperus Technologies) has reported a 64.5 per cent increase in revenue to CAD$39.6m for 2016, at the same time warning of significant doubts regarding its ability to continue as a going concern.

Despite the year-on-year improvement, the company said it did not experience the revenue growth and operating results that it initially expected in 2016 following the acquisitions of diwip (now Tangelo Israel) and Akamon Entertainment [...]

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