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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.”



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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