Party Bingo Revenues Up

Party Gaming has released its financial figures for the first half of the year and they are reporting an increase in revenues. All areas of their operations have reported growth but the biggest growth was experienced by their bingo division, Party Bingo.

Party Bingo experienced growth of 82 percent in their revenues from $1.1 million to $2 million. The bingo operation is still small but is growing quickly as is the bingo market in the United Kingdom and the growth is expected to continue.

The best performer was Party Poker which contributed more than half of the company’s revenues for the first half even though the division showed growth of only 6 percent. Party Casino experienced a 38 percent growth with revenues up from $65.1 million to $89.9 million. There was also a 36 percent growth in sports betting revenues from $6.6 million to $9 million.

Party Gaming experienced an overall increase in revenues of 17 percent over the previous year and this increase was consistent with market expectations. The company is still recovering from the enactment of the Unlawful Internet Gambling Enforcement Act in 2006 which caused it to lose the U.S. market. Their rebuilding efforts are paying off as they show increases in all areas of their operations.

Posted: August 31, 2008
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