Party Gaming Profits Affected by World Cup - 07-08-10 |
July 8 - Party Gaming, the giant online gambling operator, reported on its financial position this week and showed just how the World Cup has impacted its business.
The international soccer tournament brought a slump in the number of poker players at Party Poker, more than what the group had predicted.
However, the strong growth in Party Gaming's online casino arm helped offset the slump.
Party Casino, a site that offers a wide range of online casino games such as blackjack, slots and roulette, reported a growth in revenues of 6% in the second quarter of 2010.
The number of players, however, fell by 5% in the same time period.
"Poker has been particularly tough, with the number of daily average players expected to fall by between 8% and 9% versus the first quarter, coupled with lower yields due to reduced frequency of play on the back of both seasonality and the World Cup," said the group.
The bottom line is that Party Gaming expects a drop of between 11% - 13% in Euros on a quarter on quarter basis.
In dollars, this equates to 15% - 17%.
Party Gaming launched a fully licensed French poker site on July 1 and the group is satisfied with traffic numbers up to now.
Visit Party Casino or Party Poker today.
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