Casino Choice UK News Archive
PartyGaming chief-exec predicts better-than-expected annual report
Garber suggested the report would show full-year profit for 2006 of over $140 million, considerably less than the $293 million made in 2005, but a remarkable achievement in light of the United States ban on internet gambling.
The UIGEA passed into law in October 2006 and led to PartyGaming’s immediate withdrawal from the US online gambling market. That left player numbers at PartyPoker.com devastated, with over a 50 percent drop in average real-money players.
But since pulling out of the US PartyGaming has been concentrating on the European and Asian market with tremendous results, pulling player numbers close to pre-UIGEA figures.
Meanwhile the cost of acquisitions is likely to have affected PartyGaming’s bottom line, with the projected $140 million profit for 2006 set to increase dramatically in 2007.
The annual report is due on March 1st 2007.
The UIGEA passed into law in October 2006 and led to PartyGaming’s immediate withdrawal from the US online gambling market. That left player numbers at PartyPoker.com devastated, with over a 50 percent drop in average real-money players.
But since pulling out of the US PartyGaming has been concentrating on the European and Asian market with tremendous results, pulling player numbers close to pre-UIGEA figures.
Meanwhile the cost of acquisitions is likely to have affected PartyGaming’s bottom line, with the projected $140 million profit for 2006 set to increase dramatically in 2007.
The annual report is due on March 1st 2007.
Submitted: 2007/02/12 at 12:24:34
