Bwin.PartyGaming, 888.com Significantly Benefitting From Full Tilt Poker Closure
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
