PartyGaming Post Full House of Profits

PartyGaming Post Full House of Profits

Written by: Jeannie on 06/03/2011 08:25

The surge in online wagering has helped another of the big players in the market scoop a healthy profit in the last year.

Increased Online Gaming Leads to Big Profits

The Gibraltar registered PartyGaming PLC has revealed a nice profit in the last year thanks to a
jump in their earnings from online bingo and casino games. They are currently in the midst of a takeover of Bwin Interactive Entertainment AG which will see them make more waves in the giant European market and will also see the firm’s name changed to Bwin Party Digital Entertainment PLC from April onwards.

The net income which the firm reported for the last 12 month amounts to almost 39 million Euros. This is an impressive enough figure on its own but even better when you see that last year they made a loss of €18.5 million. Sales have climbed a whopping 15 percent to a total over well over €357 million.

If you like to invest in shares as well as have the odd wager at online bingo then you will have done well if you bought some shares in PartyGaming PLC in the last week or so, as their shares were boosted to the tune of over 9% by this news, helping claw back the share price drop from earlier in the year.
The merger which we mentioned is expected to bring with it an additional cost saving of €55 million and with the recent entry the firm has made into markets such as Italy and France the future is looking good despite an 8% drop in income from poker, this fall being mitigated by a massive doubling of their bingo sales

Categorised Under: Bingo News,
Current Article Rating
Login to Rate 


Login to Comment