Online Casino Transfer: News - Rumors Good for Party

02/12/2010		Online Casino Style: News Rumors Good for Party
Home History Games News Dictionary		Whether it’s a sign of the market turning around, the rumors flying about a potential merger with Bwin’s online gambling corporation, or just a demonstration of particularly saavy business practices, the internet casino group Party Gaming plc has released excellent numbers in relation to their last quarter in 2010. Many industry analysts are interpreting the turn as perhaps a clear sign that punters could be back on track, convinced of the upturn in worldwide economic trends, betting again in large quantities on a regular basis. Sales were up an encouraging $32 million from last year’s total for the same period, that of the fourth quarter, from October to December. Two acquisitions and a huge growth element in their online casino division have been identified as the credited points for the success in the last portion of the year. It was a jump of 32 percent in their fourth quarter sales, helped in fact, by the win of a customer for more than $5 million dollars from the internet casino’s progressive slot. Approximately $2 million of the funds were recycled back into the website’s other games in the following months, with other customer interactions boosted by the publicity. 2010 is looking to be yet another huge opportunity for huge profits, as Party Gaming’s finance director Martin Weigold said that they were expected as much as double digit sale and profit growth over the coming 11 months. The estimation may not be totally from left field, taking into account what they managed to pull off in 2009, with a complete reversal of their 18-month trend revenue declines, reflected similarly by other internet gambling companies. The online poker division was similarly up, jumping 9 percent in sales to boast a revenue total of $49.1 million. The department had experienced a lot of pressure due to increasing competition within the market, an issue resolved with the increase of both bonuses and incentives to member players to retain their loyalty. Though the quarter report didn’t mention the pending talks with potential merger and/or acquisition partners, Party’s CEO Jim Ryan did confirm the firm’s ‘active discussions’ with a number of parties.

02/12/2010

Online Casino Style: News
Rumors Good for Party

Whether it’s a sign of the market turning around, the rumors flying about a potential merger with Bwin’s online gambling corporation, or just a demonstration of particularly saavy business practices, the internet casino group Party Gaming plc has released excellent numbers in relation to their last quarter in 2010. Many industry analysts are interpreting the turn as perhaps a clear sign that punters could be back on track, convinced of the upturn in worldwide economic trends, betting again in large quantities on a regular basis.

Sales were up an encouraging $32 million from last year’s total for the same period, that of the fourth quarter, from October to December. Two acquisitions and a huge growth element in their online casino division have been identified as the credited points for the success in the last portion of the year. It was a jump of 32 percent in their fourth quarter sales, helped in fact, by the win of a customer for more than $5 million dollars from the internet casino’s progressive slot. Approximately $2 million of the funds were recycled back into the website’s other games in the following months, with other customer interactions boosted by the publicity.

2010 is looking to be yet another huge opportunity for huge profits, as Party Gaming’s finance director Martin Weigold said that they were expected as much as double digit sale and profit growth over the coming 11 months. The estimation may not be totally from left field, taking into account what they managed to pull off in 2009, with a complete reversal of their 18-month trend revenue declines, reflected similarly by other internet gambling companies.

The online poker division was similarly up, jumping 9 percent in sales to boast a revenue total of $49.1 million. The department had experienced a lot of pressure due to increasing competition within the market, an issue resolved with the increase of both bonuses and incentives to member players to retain their loyalty. Though the quarter report didn’t mention the pending talks with potential merger and/or acquisition partners, Party’s CEO Jim Ryan did confirm the firm’s ‘active discussions’ with a number of parties.