Home » OCW News » February 2010 » PartyGaming Q4 Revenues Increased by 32 percent

PartyGaming Q4 Revenues Increased by 32 percent

Date published: 3 February 2010

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Online gambling giant, PartyGaming Plc, announced this week that its fourth-quarter revenues increased by 32 percent to $132.2 million as a result of new acquisitions and its increasingly successful online sports betting and online casino businesses.

PartyGaming, which owns and operates world-renowned online poker room PartyPoker.com, confirmed that before amortization, interest, depreciation and taxes its adjusted earnings for the quarter are likely going to exceed the expectations of the board.

The company reported that new player sign-ups during its fourth quarter increased by 3 percent to 213,000. Its revenues were also up 17 percent on its previous quarter.

With mergers and acquisitions on everyone's lips in the online gambling industry, PartyGaming has been in talks with many leading online gambling companies over potential consolidations including large Austrian firm, bwin, with more undoubtedly on the horizon.

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Said PartyGaming CEO Jim Ryan, ' With some of the world's largest gaming sites in poker, casino and bingo, and opportunities to further consolidate the online gaming sector, we are confident about our future prospects. The momentum towards creating commercially viable and regulated markets is strong.'

This week PartyGaming also announced the appointment of Per Widerstrom as the company's first ever chief operating officer. Widerstrom has wide experience in the online gambling arena, as he was the former CEO of Malta-licensed gambling company, Expekt.

PartyGaming was recently in the news for another reason, when co-founder Anurag Dikshit sold the last of his shares in the firm for a hefty £105 million.