Leading online gaming operator reported a 32 percent year-on-year increase in revenues for the fourth quarter of 2009.
Friday 19th February 2010
Leading listed online gaming operator PartyGaming has released a trading update for the fourth quarter of 2009 showing a 32 percent year-on-year rise in total revenues helped by the performance of its casino and sportsbetting products.
The Gibraltar-based firm operates popular online poker domain PartyPoker.com alongside leading bingo sites FoxyBingo.com, MirrorBingo.com, ThinkBingo.com and CheekyBingo.com and revealed that its total revenues reached $132.2 million for the final three-month period of 2009 and $446.2 million for the full year.
PartyGaming announced that its revenues for the fourth quarter of last year were 17 percent higher than for the previous three-month period with the full-year figure $26.7 million less than for 2008.
“We enjoyed a strong fourth quarter with a return to growth in all four product verticals but with a particularly strong performance in casino and sportsbetting,” said Jim Ryan, Chief Executive Officer for PartyGaming.
“Having recaptured the number-one spot in the world in terms of poker liquidity and with our integration of CashCade and the World Poker Tour well on track, our performance in the first four weeks of 2010 has been in line with the board’s expectations and we remain confident about our prospects for the full year.
“With the introduction of ring game poker, casino and bingo anticipated in Italy in the first half of 2010, the opening of the French market later this year and Denmark in 2011, we believe the outlook remains positive. While the regulatory picture in some countries remains uncertain, the momentum towards creating commercially viable and regulated markets is strong.
“With some of the world’s largest gaming sites in poker, casino and bingo and opportunities to further consolidate the online gaming sector, we are confident about our future prospects.”
