Poker numbers down at PartyGaming
29th August, 2008
PartyGaming, one of the more prominent online gambling operators, reported a drop in the number of people playing their online poker games over the last two months, which made their shares drop as well.
PartyGaming’s shares dropped 2.7 percent on Friday and were posted at 207.75 pence at the time, which was due to the overall decrease in revenue over the last 8 weeks – due to the decrease in poker earnings throughout the period.
“Whilst trading in poker since June 30 has been slightly softer than we would have expected...the boad remains confident about the group’s future prospects,” said Jim Ryan, chief executive of PartyGaming.
Poker brought in $815,400 during the four weeks before the 25th of August, which was down from the four-week period prior which brought in $855,300.
Although the numbers were rather weak, everyone at PatryGaming remains confident that their future looks bright because this is only the beginning of a lengthy plan to build the business. The online gambling firm has expressed a desire to be one of the larger companies once the industry begins consolidation.
“We have a three-year plan, which is going to cause us to focus on building the business for the long term,” Ryan said. “It’s our hope we’ll build value and we’ll be out there acting as one of the consolidators.”
PartyGaming also offers online bingo, which is something that most people don’t know about but is actually quite a good site.
