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December 15th 2006
PartyPoker bounces back
In the anxious aftermath of the Unlawful Internet Gambling Enforcement Act, predictions for PartyPoker and its parent company PartyGaming Plc. were of inevitable impending doom and gloom.
PartyPoker was forced by stock market regulations to pull out of the US market, losing a massive chunk of its customer base overnight, and leaving the online gaming giant with an uncertain future. But PartyGaming shareholder’s will have been buoyed by a report from PartyGaming released this week which shows that PartyPoker is bouncing back, with poker revenues up 12 percent from the worst week after the UIGEA became law.
Daily revenues from PartyPoker had slipped to a low of $637,000 following the UIGEA’s passage in October, but have now risen to an average of $721,000.
Since pulling out of the US market in October PartyGaming has been actively pursuing non-American initiatives since, including the acquisition of other online gambling sites that were also hit hard by the UIGEA. The forward looking strategy appears to have paid off, and PartyPoker’s future is looking bright once more.
Submitted: 15/12/2006 10:47:32
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