PartyGaming performing well
23rd March, 2009
Party Gaming is one of the leading internet gaming brands offering customers a whole host of gambling products including online casino, poker betting and bingo.
The site has been at the forefront of internet gaming since it was founded back in 1997. Since then Party Gaming have seen impressive growth and continue to perform well even in today's competitive marketplace.
Net revenue totaled $472.9 million in 2008, up from the $457.8 million generated in 2007. The poker site struggled throughout the year with a 7% fall in gaming revenues, but this was countered with an impressive performing Casino site which saw profits rise by 8%.
Jim Ryan, Chief Executive Officer for PartyGaming, said, “Our business model is both flexible and robust with a capacity to generate strong cashflow. Our brands and market position are strong and we have a healthy balance sheet with which to execute our business strategy."
Sports betting results were also encouraging with a $2 million increase revenues to $18 million. Managers and staff will be very pleased with the 2008 financial report, hoping to further improve in, what will undoubtedly be a challenging 2009.
