..

PartyGaming Announces 3rd Quarter Results: Poker Sales Fall

Written by:
Aaron Goldstein
Published on:
Oct/22/2010
PartyGaming

 

PartyGaming, which operates the world’s 3rd largest online poker room, announced its 3rd quarter results on Friday.  While revenues rose 7 percent, the news was tempered by the performance of its poker sales. 

The company’s online poker arm witnessed a drop of 5 percent in total revenue for the period.

PartyGaming claims that it is under increased pressure as its two biggest rivals, PokerStars and Full Tilt Poker, have made aggressive moves into the European market.

Chief Executive Officer Jim Ryan painted a more gloomy picture, stating that he anticipated a continuous decline in revenue for the European online poker market as individual countries like France and Italy become regulating.  Ryan suggested that such regulation will result in “lower liquidity” and smaller prize pools.

PartyGaming’s positive results come following this summer’s World Cup wheresales were up 86 percent to EUR5.4 million in the third quarter.  Other sportsbooks like William Hill also had banner 3rd quarter results for 2010 thanks to the FIFA World Cup.

PartyGaming is set to merge with Austria’s bwin, one of the largest Internet sports betting businesses in the world. 

Ryan said, "In respect of current trading since the end of September, we have begun to see the normal seasonal upturn, in line with the board's expectations and we remain confident about the full year outlook." – Aaron Goldstein, Gambling911.com

Business/Financial News

Financial Markets Betting - April 1, 2020

Financial Markets Betting - April 1, 2020

Bookmaker.eu is currently offering odds on the financial market, specifically the OVER/UNDER on the Dow for April 1, 2020.  Today's number was set at 21250 -101

Bitcoin Bright Spot in Midst of Coronavirus Pandemic

Bitcoin Bright Spot in Midst of Coronavirus Pandemic

When the Stock Market started crashing a few weeks ago, cryptocurrencies followed the same downward spiral.  Suddenly on Wednesday Bitcoin and other digital currencies suddenly began to rebound.  That trend continued through Thursday.  In fact, Bitcoin was up a whopping 16.1% reaching a high of $6441.

Some Good News as Bitcoin Appears to be Bouncing Back

Some Good News as Bitcoin Appears to be Bouncing Back

Following a steep decline in the price of Bitcoin and other cryptocurrencies over the past two weeks, the price of Bitcoin was up more than 8% Thursday and creeping back towards the $6000 mark.

Sports Bettors Are Now Gambling on Stock Odds

Sports Bettors Are Now Gambling on Stock Odds

With no sports to bet on, gamblers are turning their attention to the stock market.

Bitcoin Gambling News March 12, 2020: Massive Dump Sees 2020 Gains Wiped Out

Below you will find all the latest news pertaining to Bitcoin and the world of online gambling for Thursday March 12, 2020. 

Syndicate