The official numbers of PartyGaming’s 4th quarter results will not be in until February, but preliminary reports indicate that the year-end company performance is going to be in line with company expectations, if not slightly ahead of the projected numbers.
Friday’s announcement also gave some indication of what is coming up next on PartyGaming’s business plan. The press release discussed the company presence in Italy and France and introduced a ₤35 million bank facility. PartyPoker already launched its Italian poker room, PartyPoker.it in tandem with Intralot earlier this year, but the official press release stated that new regulation and licensing in both Italy and France could affect the standing of the company’s poker holdings there. While the prospect of new regulations on online poker may seem daunting, PartyGaming has a positive outlook on the situation. The company plans to continue to foster business to business deals with a strong local presence in those two markets and remains optimistic about their legal standing within those two countries.
The new bank facility is a three-year loan that will be utilized by PartyGaming for general corporate purposes. The statement specified that the money would be used towards mergers and acquisitions, which has been the company’s MO as of late. The buyout of bingo company Cashcade is still reaping benefits for the company, as the PartyBingo division once again saw substantial growth during the fourth quarter.
Though the third quarter results of the company saw that the company’s sports betting and poker continue to struggle, things turned around for both divisions by year’s end. The statement from PartyGaming reported that the company is going to see an increase in net revenue across all four divisions of the brand. PartyPoker has struggled in the face of the Unlawful Internet Gambling and Enforcement Act (UIGEA), but the acquisition of the World Poker Tour (WPT), the launch of PartyPoker.it and an increased emphasis on marketing and sponsored pros seems to be having a positive effect.
Chief Executive Officer of PartyGaming, Jim Ryan, commented on the fourth quarter performance of PartyPoker in the official press release. “Returning poker to growth has been a key focus for us”, he explained. “We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues versus the previous quarter, despite continued competition from illegal US-facing sites and the difficult macroeconomic climate.” The statement also referenced the WPT deal and other legal and business actions by PartyGaming as major steps being taken to position PartyPoker to be one of the first and most influential sites to enter the US online gaming market should internet gambling be regulated and licensed in the near future.
Ryan also spoke to the overall company performance in the statement as well: “Despite the challenges presented by the prevailing macroeconomic environment, we have not been distracted from the execution of our strategic plan. With the prospect of a number of new and large regulated markets in front of us, an expanding portfolio of B2B customers and a return to growth in our core business, we remain confident about the Group’s prospects.”
The official year-end results will be released on February 3rd of next year.

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