Casino Choice UK News Archive
PartyGaming reports profits down, but outlook bright
The introduction of the Unlawful Internet Gambling Enforcement Act in October last year wiped out 75 percent of PartyGaming’s business, but PartyGaming appears to have bounced back, with a huge increase in player numbers on PartyPoker since the all-time low in November 2006.
PartyGaming CEO Mitch Garber said that revenue from non-US operations had more than doubled to a record $325 million. “Whilst the decision to stop accepting US customers was a bitter blow to our business our continuing operations have grown strongly from the lows reached in November,” said Garber.
PartyGaming was confident that increased movement in the European and Asian markets would help the company continue to increase profits. Garber said they would look at a possible dividend in June this year.
PartyGaming CEO Mitch Garber said that revenue from non-US operations had more than doubled to a record $325 million. “Whilst the decision to stop accepting US customers was a bitter blow to our business our continuing operations have grown strongly from the lows reached in November,” said Garber.
PartyGaming was confident that increased movement in the European and Asian markets would help the company continue to increase profits. Garber said they would look at a possible dividend in June this year.
Submitted: 01/03/07 at 12:10:37

