PartyGaming revenue up 49% in Q2 |
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Published
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Fri, 21 Jul 2006 10:10
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LONDON: Online gambling company PartyGaming Plc. said Friday its revenue in the second quarter rose 49 per cent as more gamblers used its PartyPoker site. Group revenue rose to $319.3 million in the three months ended 30 June from $214.8 in the corresponding previous year quarter.
Daily poker revenue increased 28 per cent to $2.7 million, while daily casino revenue increased from $0.1 million to $0.8 million, the Gibraltar-headquartered company said, adding nearly half of its poker customers were located outside the U.S. The U.S. government is coming down heavily on internet-based betting.
The company said it will now pursue growth outside the U.S., particularly in Europe and South America, where it sees ample opportunities.
PartyGaming had launched its first foreign language websites in the first quarter and now offers PartyPoker in languages including French and German.
Online gambling companies had been affected by the recent action by U.S. prosecutors on British-based firm BETonSPORTS Plc., including indictment and arrests of its officers in the U.S. and a directive to stop accepting bets from the country. The U.S. government views online gambling as illegal under a 1961 law against using telephone lines to place interstate bets.
PartyGaming shares closed at 87-1/4 pence Thursday, valuing the company at around $6.47 billion.
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