New markets mean bright future at PartyGaming


PartyGaming saw revenues for the first six months of the year rise sharply on the back of successful forays into new markets.

The online gambling giant, which operates sites including, and, said revenue was up 51 per cent at $661.9 million (£350 million).

Perhaps more significantly, growth outside the US market increase by a massive 151 per cent.

While the US continues to provide the lion's share of PartyGaming's profits, the company has ambitious plans for emerging markets and expects to see strong growth in these areas in the second half of the year.

"These results demonstrate... the potential to grow our business through investment in the development of new products and new territories outside North America," said chief executive Mitch Garber.

"The recent additions of backgammon and an exclusively non-US facing sports book should add momentum to our expanding international revenue base, assisted by the forthcoming launch of multi-lingual versions of our games and marketing initiatives in a number of new territories."

Internet gambling has enjoyed phenomenal success in the last five years as the spread of broadband connectivity encourages web users to work and play online.

The industry is however facing regulatory pressure, especially in the US, because of concerns about underage gambling and gambling addiction.

PartyGaming said it would continue to monitor the situation, but did not expect new legislation to hit its full year profits.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure