Interactive media company Two Way Entertainment (ASX:TTV) is ready to launch its TV wagering service in new states as soon as regulatory approval is received.
In an update to shareholders in the company's annual report, chairman Stuart McGregor and CEO Ben Reichel said the company expects to launch the service in Western Australia in early calendar 2011.
The service has seen healthy growth in those areas it operates in, and expansion into new areas will help Two Way grow its revenue.
“The board and management team continue to do everything possible to increase revenues, while continuing to keep an extremely tight reign on costs,” the update read.
The company reported a net loss of $3 million in FY10, but this was a 41% improvement on its losses from the previous year.