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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.”
3 Top Bitcoin Poker Sites -
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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