Online Casino Transfer: News - Party Reports Profits

08/27/2010		Online Casino Style: News Party Reports Profits
Home History Games News Dictionary		The half-year report for 2010 has come in for yet another well liked, and subsequently, very powerful internet gambling company as Party Gaming releases their final numbers to the press. All in all, the period was one of profit and growth for the group, as their revenues were up 30 percent from the same period last year, with much of the success being attributed to more revenue taken in by their sports betting and online casino divisions. Based out of Gibraltar, the online gambling group is listed on the London stock exchange, and was proud to release their report for the first half of the fiscal year, 2010 to the internet casino presses. Total revenue generated by the company was up 30 percent to €181.2 million, a jump from 2099’s €139.9 million. The driving factors in the growth were not only the action in their online casino and sports betting, but also the markedly successful acquisitions that have been made since last year. EBITDA was up, though by a lesser degree, increasing by 14 percent to €48.1 million, compared with last year’s €42.3 million. Net cashflow saw more improvement, up 65 percent to €55.3 million, with total available cash available coming to €146.8 million. Major highlights of improvements and expansions included the confirmation that Party Gaming’s merger with Bwin should be complete by the end of the first quarter in 2011. Party Gaming has also made good with their opportunities in the newly liberalized online gambling markets of both France and Italy, with future plans already laid out for Denmark. "While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly,” said Jim Ryan, speaking from his position as Party Gaming’s chief executive officer. “"Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Groups prospects for the rest of the year and beyond."

08/27/2010

Online Casino Style: News
Party Reports Profits

The half-year report for 2010 has come in for yet another well liked, and subsequently, very powerful internet gambling company as Party Gaming releases their final numbers to the press. All in all, the period was one of profit and growth for the group, as their revenues were up 30 percent from the same period last year, with much of the success being attributed to more revenue taken in by their sports betting and online casino divisions.

Based out of Gibraltar, the online gambling group is listed on the London stock exchange, and was proud to release their report for the first half of the fiscal year, 2010 to the internet casino presses. Total revenue generated by the company was up 30 percent to €181.2 million, a jump from 2099’s €139.9 million. The driving factors in the growth were not only the action in their online casino and sports betting, but also the markedly successful acquisitions that have been made since last year.

EBITDA was up, though by a lesser degree, increasing by 14 percent to €48.1 million, compared with last year’s €42.3 million. Net cashflow saw more improvement, up 65 percent to €55.3 million, with total available cash available coming to €146.8 million. Major highlights of improvements and expansions included the confirmation that Party Gaming’s merger with Bwin should be complete by the end of the first quarter in 2011. Party Gaming has also made good with their opportunities in the newly liberalized online gambling markets of both France and Italy, with future plans already laid out for Denmark.

"While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly,” said Jim Ryan, speaking from his position as Party Gaming’s chief executive officer. “"Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Groups prospects for the rest of the year and beyond."