Online Casinos Giant On The Up

05th May, 2010

One of the leading online casinos has been the latest gambling companies to announc their latest results, much to the delight of the city and investors.

Gibratar based gambling giant Party Gaming reported a 27% hike in revenues, thanks in no small part to great performances from their online casino, sportsbook and bingo room.

It wasn't all good news though, as what is still regarded as their bread and butter  product, online poker, saw a drop of 11% compared to this time last year. Once again, it was the USA that was blamed, as competitors such as Full Tilt and Poker Stars continue to accept players from across the pond.

It has been some three years since the US ban came into place and, like many of the best uk casinos online currently, Party Casino refuses to accept US customers.

Outgoing CEO of PartyGaming, Jim Ryan said of the latest results, which saw total revenues of over $127m in Q1...

'Total revenue was up by 27% year-on-year with strong increases in all product verticals except poker; we are maintaining our previous full year guidance for 2010 Clean EBITDA margins of approximately 28%'.

Party Gaming is in London this week, with their WPT brand hosting the first ever World Poker Tour event in London, with Paris on the cards in two weeks time.

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