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Party Bingo Revenues Down

Written by: Nikola Zugic on 06/09/2009 20:00
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The bingo industry in general is a booming industry. However, let’s not disregard the fact that it has been badly hit by several factors. There have been changes in bingo taxes last April that had affected a lot of bingo companies, especially those operating live bingo clubs. There’s also the tough economy the whole world is facing at the moment. Aside from that, the competition is getting tougher with all the online bingo sites popping here and there. That’s why bingo operators are trying their best to come up with the best promotions they can offer. That’s why we’re not surprised that one of the big companies, Party Bingo is reporting a decrease in revenue.

Party Bingo’s revenues may have shrunk but they are still looking at a good future. While Party Bingo dropped a huge amount from 2008 to 2009, they are not worried for the other half of the year. The reported drop was for the first six months of the year 2009. Back in 2008, the first six months revenue reported by Party Bingo was $2.5 million. Now this year of 2009, the revenues for the first six months amounted to just $1.7. While it is down by $800,000, Party Bingo is not worried about what’s to come.
In reality, Party Bingo’s 2009 earnings rose to $0.2 million from a loss of $0.1 million in the same period back in the year 2008. At the same time, the parent company of Party Bingo which is Party Gaming just recently bought Cashcade. If you remember, Cashcade once owned Foxy Bingo, Cheeky Bingo, Bingo Scotland, Little Big Bingo, and Think Bingo. Now that they belong in the same group, they are looking forward to a better future. In fact, forecast of Cashcade’s revenues amount to a whopping £15.3 million this 2009.

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