By Adam Ulick | July 11, 2009

As we move deeper into 2009, PartyGaming, owner of the popular online poker room PartyPoker and other gaming assets, has reported that their second quarter revenues have remained steady and in line with what was done in 2008.

PartyGaming has reported that PartyCasino, their fully operational online casino outlet, has been leading the way for the company. The company said casino revenue had shown a significant increase from the first quarter despite a decline in the number of days that players have been active due to the traditional summertime player withdrawal.

PartyPoker, on the other hand, has shown a slight drop due to it being the summer as well as the competition with poker rooms such as PokerStars and Full Tilt Poker, who accept American players. PartyGaming, however, picked up some players and has shown inroads into the American facing rooms through an active marketing program after the seizure of money from payment processors in the United States.

Back in June, the United States Department of Justice seized nearly $30 million – believed to belong to American online poker players – from online payment processors located in Arizona and California. Although it shouldn’t have affected the company, PartyPoker showed increases in numbers that were out of the ordinary.

As to the outlook for the rest of 2009, PartyGaming is confident that the company will meet many of its objectives. PartyGaming has stated that their EBITDA margins for the full year are expect to be in line with what was proposed in 2008.

In other stock news, World Poker Tour Enterprises was reinstated to the NASDAQ stock market at the beginning of July. After trading for much of the last year at under $1, WPT Enterprises was facing a delisting notice from the NASDAQ exchange unless it could pull up its stock price above the $1 minimum and maintain that level for ten trading days, as stated in Listing Rule 5450(a)(1) of the NASDAQ agreement.

When the worldwide financial markets took a downturn in late 2008, WPT Enterprises was given an extension that gave it until August of this year to move the stock price up. In early June, WPT Enterprises stock moved above the $1 line and stayed there for the required ten days. Currently the WPT Enterprises stock is trading at $1.22 and seems to be on a solid and continued recovery.

WPT Enterprises maintaining its stock stature can be a boon to the company in not only its financial dealings but also its business endeavors. The World Poker Tour, the popular tournament circuit owned by WPT Enterprises, begins its eighth season on Monday at the Bellagio and ClubWPT.com, its subscription based online poker room, continues to be popular with online poker players.

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