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PartyGaming Q4 Revenues Increased by 32 percent


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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.

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.

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