PartyGaming says football is to blame for recent dip
8th July, 2008
PartyGaming, the operator of PartyPoker and PartyCasino, has reported that revenues are down from April 28 and has blamed their current situation on the Euro 2008, claiming the football championships distracted players.
PartyGaming shares have fallen by more than 10%, “due to seasonality and competition for players’ leisure time from the Euro 2008.
Although this news seems like it would be rather disappointing for the internet gambling operator, PartyGaming is remaining optimistic about its future, focusing on the road ahead instead of the one behind.
“In the group stages of Euro 2008 a run of results went with the favourites but there were a few more shocks in the knock-out rounds,” said John Shepherd from PartyGaming. “Betting volumes were very high though.”
There was a lot of stiff competition throughout the online-poker industry and the operator was forced to offer increased bonuses and tournament costs in order to get people to the site, which played a factor in the overall revenue.
The online-gambling operator is expecting to increase revenue with some new additions to its casino offerings through a deal they made recently with the movie-studio company Paramount.
“We have a deal with Paramount and are launching ‘Top Gun’ and ‘Godfather@ machines next and will also be announcing a tie-up with another movie studio in due course,” Shepherd said.
By Michael
