Casino Choice UK News Archive
PartyGaming shares to rise?
In the immediate aftermath of the UIGEA on the 13th October PartyGaming was forced to withdraw from the US market, resulting in the loss of over half of its customers and a collapse in its share price.
PartyPoker’s player numbers dropped from highs of around 13 to 14,000 players down to around 6000. Meanwhile its share price plummeted from £1.11 per share to below 30p.
But in the months that followed PartyGaming embarked on a steady period of consolidation and acquisition which saw PartyPoker player numbers begin an impressive rise back towards their former glory.
Over the last few weeks player numbers have regularly climbed past the 10,000 mark, a near 70 percent increase on figures from November 2006. And yet despite this rise PartyGaming’s share price has remained at just 32p.
PartyGaming publish their annual report on March 1st, and it is looking increasingly likely that the news will be unexpectedly good. With Party now out of the legally volatile US gambling market, and the third party payment issues currently being experienced by PokerStars.com no longer an issue for Party, the future is looking positively bright. Could a share price rise be on the cards?
PartyPoker’s player numbers dropped from highs of around 13 to 14,000 players down to around 6000. Meanwhile its share price plummeted from £1.11 per share to below 30p.
But in the months that followed PartyGaming embarked on a steady period of consolidation and acquisition which saw PartyPoker player numbers begin an impressive rise back towards their former glory.
Over the last few weeks player numbers have regularly climbed past the 10,000 mark, a near 70 percent increase on figures from November 2006. And yet despite this rise PartyGaming’s share price has remained at just 32p.
PartyGaming publish their annual report on March 1st, and it is looking increasingly likely that the news will be unexpectedly good. With Party now out of the legally volatile US gambling market, and the third party payment issues currently being experienced by PokerStars.com no longer an issue for Party, the future is looking positively bright. Could a share price rise be on the cards?
Submitted: 2007/02/06 at 11:05:39
