Casino News Media: PartyGaming Quarterly revenue rise

Casino News Media: PartyGaming Quarterly revenue rise

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World's leading listed online gaming operator PartyGaming has announced its financial results for the third quarter of 2010 showing a 9 percent year-on-year increase in total revenues to €85.3 million.

The Gibraltar-based firm operates popular online poker domains PartyPoker.com and World Poker Tour. They also own and operate leading online bingo websites Foxy Bingo, Mirror Bingo, Think Bingo and Cheeky Bingo and revealed that revenues from its casino businesses grew two percent year-on-year to reach €34.9 million.

It's premier online casino brand is PartyCasino.com and they also own and operate Noble Casino, Casino Las Vegas, Swiss Casino, and a number of others.

Although revenues from poker decreased five percent when compared to the same period in 2009 to €29.6 million, PartyGaming revealed that bingo improved by 36% year-on-year to hit €13.1 million while sportsbetting grew by a massive 86% for the three-month period to reach €5.4 million.

“Total revenues were up by nine percent year-on-year with growth in all products except poker despite the impact of having closed our French casino business at the end of June,” said Jim Ryan, Chief Executive Officer for PartyGaming.

“Excluding our French casino, total revenues would have been up by 12% year-on-year driven by casino growth in other markets, acquisitions and a strong performance in sportsbetting.

“We have been encouraged by the strong start from our nascent French poker network that went live on July 1. A strong performance by PartyPoker.fr in France has been further boosted by the launch of PMU’s poker business in France as well as services for AB Groupe and Aviation Club De France.

“In respect of current trading since the end of September, we have begun to see the normal seasonal upturn in-line with the board’s expectations and we remain confident about the full-year outlook.”

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*Media Man conducts some b2b activities with PartyGaming brands, as they do with dozens of companies in the entertainment, news and gaming sector.

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