PartyGaming Growth Positive
July 9, 2010
Earlier this week online gambling giant PartyGaming announced that its second quarter revenue is expected to see an increase of up to 28%. This growth is largely due to the company’s recent acquisition of both Cashcade (a gambling software developer and marketing organisation) and the World Poker Tour as well as solid growth in the group’s online casino operation.
Despite growth, PartyGaming mentioned that revenue had been impacted by the results of the World Cup and subsequent favourable impact on sports betting margins, which lead to a decline of between 8% and 9% of poker players during the tournament. However, once the World Cup reaches its conclusion, the group looks forward to increased numbers and profits.
Online gambling is one of the top ten indicators of economic recovery and positive growth in this sector shows that the world may just be heading towards the end of the most recent recession which is great news for everyone.
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