PartyGaming Revenue Surges
July 6, 2010 (CAP News Wire) – As one of the world’s biggest online gambling brands — boasting the fourth largest Internet poker room, which was the most popular in the world prior to being forced out of the U.S. market by the UIGEA — PartyGaming’s fortunes are closely watched by both the iGaming industry and the larger financial sector.
So it’s big news that the Gibraltar-based company reported that its revenue will grow by about 28 percent for the second quarter of 2010. PartyGaming attributes this growth to improving performance from its online casino arm as well as its recent acquisitions of Cashcade and the World Poker Tour.
The down side: PartyPoker has experienced a fall of almost 10 percent during the World Cup, which is thought to be stealing some of online poker’s thunder. And that’s not all: All the surprises in this year’s World Cup are leading to “subsequent favorable impact on sports betting margins”, which is also negatively affecting revenue, according to MarketWatch. But, as only two games remain in the World Cup, those problems will soon be over.