Analysts Pick at the Gaming Sector Numbers
3rd October, 2007
Recent results from the gaming sector have seen analysts hastily running over numbers to see whether they are accurate with their predictions. PartyGaming was in line with some appraisal from the likes of Deutsche Bank, Dresdner Kleinwort and Numis. The analysts were agreed that PartyGaming had managed healthy interim results, despite the headline falls in both revenue and profit compared with last year due to the US pullout.
“More importantly, second quarter revenue of £112 million was 10% ahead of our forecast,“ said Dresdner Kleinwort. “By product, in the second quarter poker revenue of $73 million was 9% ahead, casino and other games revenue of $37 million was 25% ahead and sports revenue of $6.5 million was 49% below.
Analysts made the point that the widely used figures from pokersitescout might have to be taken with a pinch of salt in the future as they are far from exact proxy for revenues. Pokersitescout data has shown continuous declines in customer numbers from April.
Numis noted that trading in the traditionally slower summer months was not as slow as we thought the market had envisaged. And the Deutsche Bank saying the gross daily gaming revenue figure of $1.4million over July and August was 2% ahead of the figure for the five weeks to 1 April.
