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PartyGaming Second Quarter Revenues High
PartyGaming Chief Executive Mitch Garber said that PartyGaming has seen a forty nine percent increase in their 2nd quarter revenues.
Garber said that he was not affected by the racketeering, fraud and tax evasion charges of the rival BetOnSports.
The forty nine percent increase beat some industry forecasts, PartyGaming stock had a five increase before returning to its initial price of 87.25 pence or 1.62 in US dollars.
Because of the recent indictment of BetOnSports CEO David Carruthers, more than one billion dollars of collective market value were affected as investors are speculating that the arrest is a move to halt online gambling.
Garber said that this is the time to deal cheap acquisitions.
PartyGaming is planning to have an expansion in Asia, South America and Europe.
The revenues of PartyGaming rose from more than two hundred fourteen million US dollars in the first quarter to more than three hundred nineteen million dollars as early as the 2nd quarter.
Garber said that PartyGaming is not similar on BetOnSports as they are strictly following the policy of not taking telephone bets from the United States.
PartyPoker.com daily revenues had gained more than two million dollars while the daily casino revenues of one hundred thousand dollars had increase to eight hundred thousand dollars.
Wednesday, August 23 , 2006
Gerald Kernighan