PartyGaming Reports Improvements Following Recent United States Ban On Gambling

Following the banning of online gambling in the United States, PartyGaming reported substantial loses with revenues falling to a daily total of about $637,000. Now the company announces that it has begun to see a recovery as its daily revenues have now reached a solid $721,000 per day sum.
The website did report however, that many of its high roller gamblers had gone to other web sites to play poker, web sites that were ignoring the ban and that were privately owned.

A company spokesperson reported to Reuters that the loss of the bigger spenders had affected the per player yield. This however, was being crctd by increases in the sign ups of newer players, at the rate of about 1,400 per day.

About two thirds of the group’s revenues are now coming from Europe, Africa and the Middle East. Another third or so derives from south America, Control America, and from Canada.

PartyGaming was forced to cut 945 positions after the ban took place representing 41% of its employees.

The four weeks prior to December 11th, according to the company, without reference to sports betting, revenues reached about $921,000 while the number of players per day had been about 52,000. The company also recently purchased Gamebookers, the sports betting concern which had a daily gross average of about $65,000 since its purchase last August.

By November 30th of this year, PartyGaming’s revenues had reached in excess of $46 million. The complete results for the 2006 financial year will be available by March 1st.

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