Bwin.PartyGaming, what is now the largest Internet gambling enterprise, stated on Wednesday that it would particularly benefit from the suspension of Full Tilt's poker licence in America which "removed a major competitor".
Although revenues have slipped 3 percentto 398 million (£352.9 million)during the first half of the year while profits fells 21 percent, the betting firm felt confident enough to restore a dividend payment of 1.56p.
It is also planning to buy back 75million of shares - which rallied 17percenton the figures, up 18.2p at 128.1p, according to ThisIsLondon.com.
Bwin.PartyGaming is a combination of what was Europe’s largest online sports betting operation, Bwin, and what has routinely been the world’s third largest online poker company, PartyGaming. For a brief time period following the shutdown of Full Tilt Poker on June 29, Party had captured the number two spot in terms of overall poker traffic. It has engaged in a tightly contested battle with iPoker for that coveted spot.
888.com also appears to be benefitting from Full Tilt Poker’s abrupt shutdown. Sales in the half year were up 18% to $154 million.
- Aaron Goldstein, Gambling911.com
