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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 :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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