Online Casino Style: News - Party Gaming Releases Year-End Numbers

12/31/2010		Online Casino Style - News: Party Gaming Releases Year-End Numbers
Home History Games News Dictionary		It seems that once again the online gambling community has some solid proof that internet gambling is going nowhere, outdoing in profit performance even their cousins found in poker and bingo operations. One of the leaders in the online casino world, Party Gaming, did the industry a favor for Christmas by releasing their pre-trade update this past week, proud to announce their strong performance in the online casino despite lesser numbers coming through for bingo and poker. EBITDA numbers were estimated to be right on target, expected to hit right around 27 / 28 percent, reported the management team for the company. The future was also outlined in the optimistic report with the prospect of regulation in new markets, such as the US, offering up a range of new opportunities for growth and expansion for long-term profits. Close tabs are being held on Germany, Greece, Holland, Denmark, and Spain as well, as their dominance in the European markets will make expansion that much simpler. The only flip side to the plans will be the necessary immediate costs to achieving regulation and licensing, as well as potential tax responsibilities in the new regions. But for now, trading since the end of September has been regular and strong, with their online casino holdings bringing in the bulk of the action. Double-digit growth, in fact, was marked for the average daily growth revenue when compared to the third quarter this year. Poker saw growth as well, though it was less than what has normally been noted in the fourth quarter in previous years. Bingo brought in less so far than it had in the third quarter; both statistics have been blamed on the weight of the Euro compared with the dollar and pound sterling. “Revenues in the fourth quarter have enjoyed their usual seasonal upturn,” reported Party's chief executive, Jim Ryan. “Casino has performed particularly strongly with double-digit revenue growth over the third quarter, although currency movements meant that the uplift in poker has been less pronounced than usual. Clean EBITDA margins are expected to be in line with our previous guidance for 2010.”

12/31/2010

Online Casino Style - News:
Party Gaming Releases Year-End Numbers

It seems that once again the online gambling community has some solid proof that internet gambling is going nowhere, outdoing in profit performance even their cousins found in poker and bingo operations. One of the leaders in the online casino world, Party Gaming, did the industry a favor for Christmas by releasing their pre-trade update this past week, proud to announce their strong performance in the online casino despite lesser numbers coming through for bingo and poker.

EBITDA numbers were estimated to be right on target, expected to hit right around 27 / 28 percent, reported the management team for the company. The future was also outlined in the optimistic report with the prospect of regulation in new markets, such as the US, offering up a range of new opportunities for growth and expansion for long-term profits. Close tabs are being held on Germany, Greece, Holland, Denmark, and Spain as well, as their dominance in the European markets will make expansion that much simpler. The only flip side to the plans will be the necessary immediate costs to achieving regulation and licensing, as well as potential tax responsibilities in the new regions.

But for now, trading since the end of September has been regular and strong, with their online casino holdings bringing in the bulk of the action. Double-digit growth, in fact, was marked for the average daily growth revenue when compared to the third quarter this year. Poker saw growth as well, though it was less than what has normally been noted in the fourth quarter in previous years. Bingo brought in less so far than it had in the third quarter; both statistics have been blamed on the weight of the Euro compared with the dollar and pound sterling.

“Revenues in the fourth quarter have enjoyed their usual seasonal upturn,” reported Party's chief executive, Jim Ryan. “Casino has performed particularly strongly with double-digit revenue growth over the third quarter, although currency movements meant that the uplift in poker has been less pronounced than usual. Clean EBITDA margins are expected to be in line with our previous guidance for 2010.”