Positive Results for PartyGaming
Article Published:
04/02/2010 11:17:20
PartyGaming, the group that operates PartyCasino, PartyPoker and several other high-profile online gambling sites, has released its results for the fourth quarter of 2009, and they are encouragingly positive. PartyGaming, like other online gambling businesses, had been hit hard by the 2006 ban on US players, but the group posted figures showing that growth had risen 32% on the previous year and an impressive 17% on the previous quarter.
The number of new players joining a PartyGaming site increased by 3% on Q3, to 213,000. The company also reported that the number of ‘active player days’ (which is the number of days that a player actually plays games) increased by 8% on the same period.
All of this is good news of the online casino industry, and the figures provide evidence that the demand for entertaining and potentially profitable games continues to grow. PartyGaming is of course in a dominant position, with products catering for the widest possible range of gambling interests, but the figures have been greeted with enthusiasm by the industry at large, and rightly so.
Jim Ryan, who is CEO of the PartyGaming group, said: ‘We enjoyed a strong fourth quarter with a return to growth in all four product verticals but with a particularly strong performance in casino and sports betting. Having recaptured the number one spot in the world in terms of poker liquidity and with our integration of Cashcade and the World Poker Tour (‘WPT’) well on track, our performance in the first four weeks of 2010 has been in-line with the Board’s expectations and we remain confident about our prospects for the full year.”
He continued: “With the introduction of ring game poker, casino and bingo anticipated in Italy in the first half of 2010, the opening of the French market later this year and Denmark in 2011, we believe the outlook remains positive. Whilst the regulatory picture in some countries remains uncertain, the momentum towards creating commercially viable and regulated markets is strong. With some of the world’s largest gaming sites in poker, casino and bingo, and opportunities to further consolidate the online gaming sector, we are confident about our future prospects.”
