PartyGaming, which offers a wide range of gaming services such as online betting, poker, bingo, and casino, has not met its revenue target this fiscal year. The gaming giant admitted that its poker revenues are much lower than expected during the last quarter of the financial year. However, the company has met its overall revenue target, owing to its good fortune in the casino section.
Explaining its daily average gross revenue, the company said that although it has met the expected target for the time being, it is not as strong as the previous year because the US dollar has weakened while the Euro has gained strength. The company’s casino business has witnessed “double-digit growth” with regard to its daily average gross revenue, but its online sports betting and bingo businesses have done poorly. PartyGaming said that it will meet its profit expectations although it is heavily dependent on its casino business at present, most of the profits being raked in from that section.
Speaking about PartyGaming’s excellent casino performance this financial year, PartyGaming Chief Executive Officer Jim Ryan said that the casino has witnessed a strong growth with double-digit revenues during the third quarter although currency movements have led to a downslide in the gaming giant’s poker performance.
PartyGaming might reportedly join BWIN to deal with various market challenges, and if this happens, the merger will be complete by March 2011. According to Ryan, the merger will place the gaming giant in a powerful position to deal with various gaming regulation changes in Europe.
ParyGaming also stated that the US is moving toward legalizing and regulating online poker both at the state and the federal levels and that the gaming giant has already held in-advance talks with licensed US gaming companies so that it can provide great value for its shareholders.
According to the gaming company’s third-quarter financial results, it had witnessed 9 percent growth in all gaming businesses except poker. PartyGaming’s poker revenue plunged from €31.3 during the third quarter of 2009 to a mere €29.6 million in the third quarter of 2010. The number of average daily players plummeted to 46,100 to 50,400.
Simultaneously, the company also said that its poker performance in France witnessed definite growth with a huge increase in average daily players every month ever since its launch. Jim Ryan said that one of the factor’s responsible for PartyPoker’s strong performance in France is the introduction of PMU’s poker services in France.

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.