International edition
September 25, 2021

The company stated that it was confident about its future prospects

PartyGaming pursues takeover deals as sales fall

(UK).- Online gambling group PartyGaming said it was continuing to pursue takeover opportunities with a number of parties as it reported a 2 % decline in second quarter revenue.

T

he group, which is reported to have held merger talks with Austrian firm bwin, said this week that it was looking to play an active role in consolidation of the industry and was confident about its future prospects.

"Whilst progress on consolidating the online gaming industry has been slower than expected, we remain committed to playing an active role and are continuing to pursue opportunities with a number of parties," said Chief Executive Jim Ryan.

Analysts say the online gaming industry is ripe for consolidation because of its fragmented nature and a mooted deal between PartyGaming and bwin had been seen as a potential catalyst for a wave of takeover activity.

PartyGaming, which operates the PartyPoker and PartyCasino sites, said overall trading had been in line with the board's expectations despite the summer weather and the World Cup providing alternative attractions for gamblers.

Market expectations for full year earnings before interest, tax, depreciation, and amortization range between us$ 219 million and us$ 247.2 million, with the consensus at us$ 225.8 million, according to a Thomson Reuters I/B/E/S poll of 9 analysts.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook