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ONLINE CASINO GROWTH BOOSTS PARTY GAMING’S FIRST QUARTER
5/6/10 - Online gambling group Party Gaming plc has reported a 27 percent rise in first-quarter revenue that is mainly attributable to strong growth from internet casino, bingo and sports betting services.
Online poker revenues continue to disappoint, however, depressed by competition from major websites like Pokerstars and Full Tilt Poker, which continue to take bets from United States-based gamblers.
Group revenue increased to $127.1 million in the first quarter of 2010, with casino revenue up by 25 percent to $51.2 million, and online poker revenue falling to $47.8 million from $53.6 million in the same quarter the previous year.
First quarter highlights included:
* Group revenue up 27 percent to $127.1 million (2009: $100.1 million);
* Average daily revenue down 2 percent versus the previous quarter due to an exceptional casino performance in Q4.
* Poker revenue of $47.8 million (2009: $53.6 million);
* Casino revenue up 25 percent to $51.2 million (2009: $40.9 million);
* Average daily casino revenue down 9 percent versus the previous quarter due to an exceptional casino performance in Q4 and foreign exchange considerations.
* Bingo revenue of $17.7 million (2009: $1.0 million);
* Average daily bingo revenue up 4 percent versus the previous quarter driven by higher player numbers, partially offset by adverse foreign exchange circumstances.
* Sports betting revenue of $7.1 million (2009: $4.5 million);
* Average daily sports betting revenue up 1 percent versus the previous quarter due to further improvement in gross win margin
Jim Ryan, Chief Executive Officer, said: “Total revenue was up by 27 percent year-on-year with strong increases in all product verticals except poker, which fell due to competition from US-facing sites.
“On a quarter-on-quarter basis and as expected, we have seen a slight softening in average daily revenue overall following the exceptional casino performance in the previous quarter. While clean EBITDA margins for the year to-date were ahead of our expectations in the first quarter of 2010, we are maintaining our previous full year guidance for 2010 clean EBITDA margins of approximately 28 percent.
“In line with our expectations, since the end of March gross average daily revenues have softened and were down between 6 percent and 7 percent versus the average for the previous quarter, reflecting the normal seasonal pattern seen in previous years.”
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Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
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New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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