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PARTY GAMING RECORDS 6.5 PC SLIDE IN OPERATING PROFIT
Online gambling group PartyGaming has released its first half results, showing a 6.5 percent fall in operating profit, which management has attributed to competitive pressures and the consumer slowdown.
However, the group offered the more encouraging news that trade in the last three weeks had been strong. In the three weeks to August 18, the average gross daily revenue was $1.9 million, whilst average active poker players totalled 51 000 per day.
The group posted an H1 2009 operating profit of $60.7 million on revenues down 21 percent at $201.3 million for the six months to the end of June.
Management recapped on its non-prosecution agreement with U.S. authorities, which confirmed Party Gaming would not be prosecuted for its activities prior to the passing of the Unlawful Internet Gambling Enforcement Act in October 2006.
As part of the agreement PartyGaming said it would pay U.S. authorities $105 million over a 42-month period, which resulted in a first-half pretax loss of $66.9 million compared with a profit of $22.7 million in the same period last year.
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Gambling News :
FanDuel adds English Premier League action -
Daily fantasy sports operator FanDuel, which is now additionally active in the UK market, has announced the inclusion on its roster of English Premier League action, with associated contests scheduled for roll-out next week.
Coral Q4-2016 earnings reports -
Ahead of its forthcoming merge with Ladbrokes, the online and land gambling group Coral published its Q4-2016 financial numbers Thursday, detailing the twelve week period ended September 25 2016.
Unibet in cooperation with -
Online gambling operator Unibet Group has signed a cooperation agreement with the FIFA subsidiary Early Warning System GmbH (EWS).
Kiron Interactive in deal with Digitain -
The online gambling expo and conference EiG 2016 has enabled two online gambling companies to come together in a commercial deal; specialist virtual games supplier Kiron Interactive has inked an agreement to distribute its virtual games via Armenia’s Digitain.
GLOBAL SPORTS BETTING WORTH $253.3 BILLION BY 2020 -
Ujjwal Doshi, lead analyst at the research firm, says, “Low-cost cross-border service delivery is opening up sports betting markets, which were previously protected by state-regulated monopolies or dominant local operators.”
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