PartyGaming revenue in line for full year
Clean EBITDA margins for 2010 are expected to be in-line with previous guidance.CEO Jim Ryan said revenues in the fourth quarter had enjoyed their usual seasonal upturn. Casino had performed particularly strongly, with double-digit revenue growth over the third quarter, although currency movements meant the uplift in poker was less pronounced than usual.
The bwin merger should place the combined group in a strong position to take advantage of the changing regulatory landscape in Europe.
PartyGaming said there continued to be much movement in the US towards regulating online gaming, both at the Federal and State level. Should legislation be enacted, the group was well advanced in discussions with licensed companies in the US that could create substantial value for shareholders.
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