PartyGaming one of the Leading Online Casino Groups Increases Revenue
27 October 2005

One of the leading online poker operators, PartyGaming, has recently announced that their revenue has increased 32%, thanks to their online casino players. This is good news for the company, especially since their shares have fallen substantially from their original public offering that was made back in June. According to the Regulatory News Service statement, PartyGaming reported that their revenue for the 3 months came to an end on the 30th of September and has raised t0 $220 million dollars from$166.1 million. This number compares with an 81% gain in the first half.

It appears that customers of the different PartyGaming sites have increased dramatically, as PartyGaming reports an increase of 53%! This is great news for this online casino and poker powerhouse, who have had a hard time this summer on the London Stock exchange. In fact, in early September, PartyGaming saw its shares decrease 33%, shortly after they said revenue growth was slowing.

The Chief Executive Officer of PartyGaming, Richard Segal, commented that it was during the end of September that the company began to see a real improvement as far as online casino and poker was concerned, and the group remains confident that their prospects will maintain their current success.

Due to many exciting events such as the World Series of Poker, the poker industry has really expanded, motivating players to engage in popular games like Texas Hold’em online. In this year alone, approximately 29 thousand players competed in the World Series of Poker in Las Vegas for various cash prizes, all of which totaled to an estimated $103 million dollars.

Thus, now more than ever, players are engaging in online casino and poker entertainment which has caused competition to increase in the market; the market that is currently 51% controlled by PartyGaming.