Online Poker > News Archive
Poker News
September 11th 2006
PartyGaming reports first half profits
PartyGaming PLC demonstrated its continued growth recently with a strong profit report for the first half of 2006. The credit was given to increased demand for both its poker and casino operations.
According to the report operational profits rose a staggering 67 percent to $319.3 million in the first half of 1006, compared to $190.8 in the same period of 2005. Sales jumped 51 percent to $661.9 million.
With the increasing instability of the US market the report showed PartyGaming’s future is bright, with non-US revenues jumping a mind-blowing 151 percent from 2005 to reach $149.8 million in the first half of 2006. That means non-US revenue now accounts for almost 50 percent of total revenue.
Speaking about the report PartyGaming PLC chief executive Mitch Garber said: “PartyGaming has delivered a strong first half performance. These results demonstrate the strength of our business model and also the potential to grow our business through investment in the development of new products and new territories outside North America.”
Despite the ever-increasing profits and revenues PartyGaming shares are still unstable with investors showing a fragile confidence in the online gaming market. The US government’s aggressive policy towards online gaming is entirely to blame, with the recent arrest of a Sportingbet executive causing share prices to tumble across the industry. Still, for those who have shown faith in PartyGaming the ever-increasing revenues and profits should be comforting.
Submitted: 11/09/2006 16:41:02
Page 1 of 1
Monthly Archive
Please
wait...
(UTC/GMT)
07 January 2009 00:36:48
Quick Links
Poker Room Reviews
Headlines
20/06/2007 11:22:57
2007 WSOP: Events 27 – 29
We’ve now passed the half-way line in this year’s WSOP and some of the most exciting events are almost upon us, such as the $10,000 Pot-Limit Omaha Championship, the $50,000 H.O.R.S.E Championship, and tomorrow’s much anticipated $5,000 Heads-UP NL Hold’em Championship.
18/06/2007 12:40:33
2007 WSOP: Events 21 to 26
With 26 events accounted for the 2007 WSOP is almost at the half way stage. Although numbers have dwindled slightly down from the record breaking Event #3 the Rio is still buzzing, and a number of events have topped the 1,500 mark since.
14/06/2007 17:17:40
2007 WSOP: Events #17 - #21
The WSOP continues to roll on, with almost three events finishing every day now, and as we get further into proceedings the pro players seem to be making the final tables with regularity.
News Archive