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Party Gaming makes a come back

Online gambling group party gaming reported a 52% increase in revenues for 2007. Revenues reached 120 million which is its highest revenue per quarter since UIGEA which it saw a sudden drop in revenue ad did many operators especially Calvin Ayre of Bodog who since UIGEA noticed a big drop in the Forbes list.

The breakdown of the revenues are as follows 156% to 42.3 million in quarter four of 2007 and sport betting revenues went up to 5.1 million which is a 50% increase over the previous years takings.

Party Gaming shareholders lossed lots of money after the site plummeted due to UIGEA. Low affiliate costs and lower bad player debts have given Party Gaming a boost in revenue.

"We are delighted to have delivered another strong performance. We continue to build on the four pillars of our strategy: growing the player base, localizing the customer offer and broadening the product base whilst acting responsibly and this strategy continues to deliver strong financial results. These results show that we have built a solid platform for growth in the post-UIGEA world and we remain confident about the Group's future prospects." Reported CEO of Party Gaming.

Party Gaming were once leaders in the online gambling industry with their software designer Anurag Dikshit becoming a billionaire very quickly and one of the richest men in the world due to the success of Party Gaming at a time where the industry was not over crowded with new casinos like it is becoming today. Today and big brand name not in the casino industry is turning to the online casino industry for an extra source of revenue hence the creation of sites such as itv casino a popular British tv channel using the brand name to gain dominance in this new industry to them. We will see a lot more of this in the next couple of years due to the significant amount of revenue that can be generated. Operators like Party Gaming we here at Jackpotavenue still think will dominate as they have a long established brand name and a good reputation as a key player in the industry. We expect a big rise in Party Gaming in the next few years and would highly recommend them as an investment opportunity on the stock exchange watch this space! These guys are not over but just beginning again they we are sure have new plans for 2008, which will shine the light on them again. Many of the operators that are stepping up that don’t know the industry but have a world known brand are not experts in the gaming industry and therefore don’t know what the players want compared to Party Gaming who have been in it from the beginning. They have heard all the customer comments and have adapted their sites to suit the customers. Many of the new sites are entering the industry following a typical design of other sites with a simple white label operation. As a player look around for sites that are not going down this route. Our casinos are certainly not like this. Don’t pick your casino just on the reputation that brand has got elsewhere in the world. If you like Kit Kat chocolate bars don’t join the Kit Kat casino just because they produce good chocolate bars does not mean they will produce good casinos.

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