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THIRD QUARTER RESULTS RELEASED BY PARTY GAMING

Online poker revenues continue decline
 
Online gaming group, Party Gaming plc, Friday posted a 9 percent rise in third quarter revenue and said it is confident about the full year outlook.
 
Still, the total revenue increase was tempered by a fall in poker sales which are under pressure from U.S. poker websites like Full Tilt Poker and PokerStars which are expanding aggressively in European markets where PartyGaming operates.
 
In the three months to September 30, total revenue rose to Euro 85.3 million from Euro 78.3 million a year earlier.
 
Third quarter highlights included:
 
* Group revenue up 9 percent to Euro 85.3 million (2009: Euro 78.3 million) with growth in all products except poker
* Casino revenue up 2 percent to Euro 34.9 million to Euro 34.9 million (2009: Euro 34.2 million), driven by content and jackpot improvements on PartyCasino
* Poker revenue down 5 percent to Euro 29.6 million (2009: Euro 31.3 million) with continued pressure from US-facing sites partially mitigated by growth in newly regulated markets
* Bingo revenue up 36 percent to Euro 13.1 million (2009: Euro 9.6 million) driven by the acquisition of Cashcade
* Sports Betting revenue up 86 percent to Euro 5.4 million (2009: Euro 2.9 million) on the back of both increased turnover and gross win margins
* Current trading improving on the back of seasonality, in-line with expectations
* Bwin merger proceeding as planned; Simon Duffy confirmed as Chairman-elect of the merged company
 
Commenting on today’s announcement, Jim Ryan, chief executive officer, said:
 
“Total revenue was up by 9 percent year-on-year with growth in all products except poker, despite the impact of having closed our French casino business at the end of June 2010.  Excluding French casino, total revenue would have been up by 12 percent year-on-year, driven by casino growth in other markets, acquisitions and a strong performance in sports betting. 
 
“We have been encouraged by the strong start from our nascent French poker network that went live on 1 July 2010.  A strong performance by PartyPoker in France has been further boosted by the launch of PMU’s poker business in France as well as services for AB Groupe and Aviation Club de France. 
 
“I am also pleased to report that the proposed merger with bwin remains on track to complete at the end of Quarter 1 2011, subject to regulatory and shareholder approvals and I am delighted that Simon Duffy has agreed to become Chairman of the Enlarged Group on completion, as detailed in a separate press release issued today.”
 
On current trading he added:
 
“In respect of current trading since the end of September, we have begun to see the normal seasonal upturn, in-line with the Board’s expectations, and we remain confident about the full year outlook.”



Gambling News :

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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 - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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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