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PARTY GAMING TRADING UPDATE RELEASED

Q2 revenues will be up 28 percent
 
The London-listed online gambling giant PartyGaming plc issued a trading update Tuesday revealing that its second quarter revenue is expected to be up around 28 percent compared to the same period last year, mainly due to strong growth in its online casino division, along with the acquisitions of Cashcade and the World Poker Tour.
 
However, the update notes that total revenue is likely to be slightly lower by around 2 percent compared to Q1 following a 9 percent decline in online poker activity and some unexpected outcomes at the football World Cup which had a greater-than-expected adverse impact on other parts of the business.
 
Online casino revenues grew quarter-on-quarter despite seasonality and the impact of the World Cup, whilst online bingo and sports betting revenues remained steady when compared with the previous quarter.
 
Management said that prospective licensing and regulation in Europe and the US continues to offer exciting medium to long-term revenue potential through both B2C and B2B opportunities
 
"Poker has been particularly tough with the number of daily average players expected to fall by between 8 percent and 9 percent versus the first quarter, coupled with lower yields due to reduced frequency of play on the back of both seasonality and the World Cup," the update reveals.  "As a result, we expect poker revenue in Euros to be down between 11 percent and 13 percent quarter-on-quarter."
 
The update notes that in Italy, the new licensing regime that would permit cash game poker has been delayed and is now not expected to occur until the fourth quarter of 2010.  In France, the group launched its PartyPoker.fr website on 1 July 2010, one of the first operators to enter the newly regulated online market, and Management are 'very encouraged' by performance to date.
 
Online casino operations continued to perform well and aare expected to deliver net revenue growth of approximately 6 percent compared with the seasonally strong first quarter, due primarily to an increase in yield thanks to a higher hold and favourable currency movements, despite daily average player numbers down approximately 5 percent on the back of seasonality.
 
Party Gaming CEO Jim Ryan, said: “We are pleased with the relatively robust performance of our business compared to many other consumer facing businesses in what remains a challenging economic environment.  Overall the Group has performed in-line with expectations even though the adverse impact of the World Cup on our non-sports betting verticals was slightly greater than expected. 
 
“We have made great progress in securing partners for our poker network in France with PMU, AB Groupe and Aviation Club de France already in place.  We expect to add another significant partner to our French network in the near future.  The early signs from this important new market are encouraging.
 
“The World Poker Tour is performing in-line with our expectations and we believe that this asset, combined with the strength of the PartyPoker brand and the resolution of our US legacy issues ensures that we are well-positioned should online gaming become regulated in the US. In this respect, discussions are progressing well with a number of potential US-based gaming partners.
 
“Whilst progress on consolidating the online gaming industry has been slower than expected, we remain committed to playing an active role and are continuing to pursue opportunities with a number of parties."



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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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