International edition
September 27, 2020

This was far superior to the us$ 325 million recorded the previous year

Party Gaming announces sharp profits rise in online casino and poker

(UK).- Party Gaming have announced a rise of full-year earnings for 2007 in their two main sites Party Poker and Party Casino. The internet casino has declared a 119% rise in profits last year for a total of us$ 111.7 million against just over us$ 50 million in 2006.

T

he figure was slightly ahead of the market expectations of us$ 107- us$110 million and net revenues were slightly below predictions at us$ 476 million, however this was still far superior to the us$ 325 million recorded the previous year.

Richard Carter, an analyst for independent investment bank Numis Securities, said: “With Mitch Garber declaring his intention to leave the group in 2009 and with trading only in-line with expectations, we think the shares may fall back a little over the coming days.”

Party Gaming took a massive hit when the UIGEA prevented US players from accessing its facilities, however the firm have recently revealed that it is holding discussions with US authorities regarding the ban.

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