Reports estimate that online poker and casino giant Party Gaming has been enjoying a strong run of success with its various enterprises. Party Gaming has shown a good profit margin and its revenue growth has been traced back to its casino, which has roped in a lot of funds for the company.
The online casino portal run by Party Gaming hit double digits in its growth rate for its average daily gross revenue. In comparison to the growth generated during the third quarter of the year, the company’ records show better profits owing to increase in its turnover and hold.
Jim Ryan, the chief executive officer of the Party Gaming enterprise, commented on the revenue report. “Revenues in the fourth quarter have enjoyed their usual seasonal upturn. Casino has performed particularly strongly with double-digit revenue growth over the third quarter, although currency movements meant that the uplift in poker has been less pronounced than usual. Clean EBITDA margins are expected to be in line with our previous guidance for 2010,” he said.
Party Gaming is also looking to expand its enterprise by signing a merger with another gaming giant, namely Bwin. The revenue figures indicate that the company is on a good path which will allow the Party Gaming and Bwin merger to take place by March next year.
He also spoke about the merger and had favorable things to say about the expected future. “The proposed merger with Bwin remains on-track to complete at the end of the first quarter and should place the combined group in a strong position to take advantage of the changing regulatory landscape in Europe given its leadership positions across all key product verticals,” he added.
The Party Gaming poker sector also recorded a boost in revenue this quarter, but it was not a very significant one since the hike was brought down by the fall in the currency values of the United States Dollar. In regards to its next step in working towards expansion the company announced plans to enlarge its European market by moving into regions like Holland, Germany, Spain, Greece and Denmark. In order to accomplish this, the online gaming platform provider will be implementing “additional gaming taxes and investment” with the goal of securing a good profit where the “long-term revenue potential is maximized.”
The company also commented on the US market in their report, claiming that they were in a good position to jump on any opportunity created by possible internet gambling regulations at both the federal and state levels in America.

Tight Poker Staff

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Tight Poker Staff

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For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.