The financial outcome has been finally disclosed by PartyGaming for the year 2010. The outcome portrays that there has been a good escalation in the revenue of the company from €310.1m in 2009 to 2010. PartyGaming’s finance reports reported 357.3 million euros of sales, which is a 15 percent escalation.
The company’s net income has also increased from €18.5 million euros loss in the previous year to €38.9 million ($54 million) this year. Till 31st December, the company’s remarkable revenue earnings was because of the rise in its casino, bingo and sports wagering verticals, which also aided in compensating the constant dip in the poker sections.
On the whole, Party Casino’s revenue increased to €151.4m in 2010 from €136.3m in the previous year and Party Bingo’s revenue had increased to €51.4m from €22.8m last year and Sports Betting accomplished €20.8m from €13.2m.
PartyGaming shareholders will be happy to know that the company’s casino earnings increased by 11 percent to 151.4 million Euros and bingo’s earnings increased greater than two fold.
Some more good news for PartyGaming with regards to people who are investing is the fact that PartyGaming is ready to buy out Bwin holding shares in the new title bwin.party digital entertainment plc, which is predicted to be concluded at the end of March.
The initial couple of months for PartyGaming in the year 2011 looks promising and the company’s shares have increased by 3% as of this day to 180.40, making the company’s worth estimated to be around £715.9 million ($1.17 billion).
“Casino has shown good growth and is developing successful games in-house,” stated three Numis analysts headed by Ivor Jones. They have a “buy” approval on PartyGaming. “Bingo is growing and ready to roll out across Europe” they added.
Chief Executive Officer, Jim Ryan also commented on online gambling in America. He discussed a vision to settle things with the U.S. Department of Justice which requested PartyGaming to withdraw from the American segment in 2006 subsequent to complying with a non- prosecution agreement. He also stated that the company is in an improved position as compared to other entities and will delve into the American segment sooner or later after online gambling is legalized in America.
“In the US we believe there is growing political and commercial will to regulate online gaming and that we are well-positioned to exploit our strong franchise in that market should regulations allow”, added Jim Ryan.
Chief Executive Officer, Jim Ryan claimed that PartyGaming is expecting Denmark to permit online gambling by this year with Greece, Netherlands, Spain and Germany following the suit shortly. All these improvements should only add to PartyGaming’s revenue in the future.

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.