PartyGaming reported an unexpected increase in forth-quarter revenues, marking the first time in the last year and a half that they have seen growth. They attributed the growth to several factors, including the introduction of new games in their bingo and casino sections, and to a better loyalty system in their poker site. A strengthening dollar may also have contributed to the increasing success of the site.

Times Online: Online gaming groups say they are on winning streak

Two of the largest online gaming groups in Britain revealed yesterday that players are returning to the tables. PartyGaming just saw better their best quarter since the second quarter of 2008, while Sportingbet saw a similar increase in revenues.

PartyGaming reported growth across all categories, including internet bingo and online casino. KBC Peel Hunt, a stockbroker and advisory house, projected a 24% rise in revenue compared to the fourth quarter of 2008, making this the first rise in the past year and a half.

The site’s poker tables saw the biggest increases. PartyGaming recently revamped site and has been working hard to introduce better loyalty bonuses. PartyGaming’s chief executive Jim Ryan states, “Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues.”

Meanwhile, Sportingbet spread a similar statement yesterday, remarking that the strength of their online sportsbook, which provides nearly 70% of their total revenue, has been thriving.

Financial Times: PartyGaming flush with poker revival

Poker revenue at PartyGaming returned to growth during the last quarter of 2009, showing the first increase in the last six quarters.

In a trading update, the internet gambling group revealed that major European-based poker operators have been facing strong competition from dominant US groups Full Tilt and PokerStars, which are using their liquidity in the unregulated US market to increase their strength in the European market.

Morgan Stanley suggets three reasons to explain PartyGaming’s poker recovery: a more regulated European market; a stronger dollar; and the company’s ever-improving loyalty schemes.

PartyGaming did not mention their early-stage merger discussions with Bwin, its Austrian-based online gambling rival. The company did, however, announce a £35m three-year loan, which it intends to use for mergers and acquisitions.

In a similar announcement, Sportingbet stated that it was confident of a “satisfactory outcome” for the next financial year. Sports betting represents almost 70% of group’s revenues and will be the main force behind their growth.

The New York Times: PartyGaming Sees FY Earnings Up on Poker

Online gambling firm PartyGaming announced that fourth-quarter trading was solid, due to a return to growth in their online poker operations. The company things full-year earnings may beat their own expectations.

PartyGaming’s revenue is in line with forecasts, though clean earnings )before interest, tax, depreciation and amortization) are expected to be slightly ahead of projections.

PartyGaming said that both its online casino and internet bingo businesses were both performing well due to the introduction of new games, higher jackpot payouts, and their Cashcade acquisition back in July. In their sports betting operations, the company also benefited from a good run of results.

Analysts expect that PartyGaming will report EBITDA of about USD 132 million (GBP 81.4 million) for the fiscal year 2009, according to a Thomson Reuters I/B/E/S poll of eight brokers.

British media on Sunday revealed that PartyGaming is in discussions with Austria’s bwin Interactive Entertainment AG, but bwin downplayed the report, saying it was not in any advanced talks. PartyGaming did not comment on market speculation.

PartyGaming reported an unexpected increase in forth-quarter revenues, marking the first time in the last year and a half that they have seen growth. They attributed the growth to several factors, including the introduction of new games in their bingo and casino sections, and to a better loyalty system in their poker site. A strengthening dollar may also have contributed to the increasing success of the site.

Times Online: Online gaming groups say they are on winning streak

Two of the largest online gaming groups in Britain revealed yesterday that players are returning to the tables. PartyGaming just saw better their best quarter since the second quarter of 2008, while Sportingbet saw a similar increase in revenues.

PartyGaming reported growth across all categories, including internet bingo and online casino. KBC Peel Hunt, a stockbroker and advisory house, projected a 24% rise in revenue compared to the fourth quarter of 2008, making this the first rise in the past year and a half.

The site’s poker tables saw the biggest increases. PartyGaming recently revamped site and has been working hard to introduce better loyalty bonuses. PartyGaming’s chief executive Jim Ryan states, “Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues.”

Meanwhile, Sportingbet spread a similar statement yesterday, remarking that the strength of their online sportsbook, which provides nearly 70% of their total revenue, has been thriving.

Financial Times: PartyGaming flush with poker revival

Poker revenue at PartyGaming returned to growth during the last quarter of 2009, showing the first increase in the last six quarters.

In a trading update, the internet gambling group revealed that major European-based poker operators have been facing strong competition from dominant US groups Full Tilt and PokerStars, which are using their liquidity in the unregulated US market to increase their strength in the European market.

Morgan Stanley suggets three reasons to explain PartyGaming’s poker recovery: a more regulated European market; a stronger dollar; and the company’s ever-improving loyalty schemes.

PartyGaming did not mention their early-stage merger discussions with Bwin, its Austrian-based online gambling rival. The company did, however, announce a £35m three-year loan, which it intends to use for mergers and acquisitions.

In a similar announcement, Sportingbet stated that it was confident of a “satisfactory outcome” for the next financial year. Sports betting represents almost 70% of group’s revenues and will be the main force behind their growth.

The New York Times: PartyGaming Sees FY Earnings Up on Poker

Online gambling firm PartyGaming announced that fourth-quarter trading was solid, due to a return to growth in their online poker operations. The company things full-year earnings may beat their own expectations.

PartyGaming’s revenue is in line with forecasts, though clean earnings )before interest, tax, depreciation and amortization) are expected to be slightly ahead of projections.

PartyGaming said that both its online casino and internet bingo businesses were both performing well due to the introduction of new games, higher jackpot payouts, and their Cashcade acquisition back in July. In their sports betting operations, the company also benefited from a good run of results.

Analysts expect that PartyGaming will report EBITDA of about USD 132 million (GBP 81.4 million) for the fiscal year 2009, according to a Thomson Reuters I/B/E/S poll of eight brokers.

British media on Sunday revealed that PartyGaming is in discussions with Austria’s bwin Interactive Entertainment AG, but bwin downplayed the report, saying it was not in any advanced talks. PartyGaming did not comment on market speculation.

Though still affected by the slumping worldwide economy, Sportingbet representatives were recently quite happy to announce the sportsbook’s profitable third-quarter results for the fiscal year. Key markets of Spain and Greece were unimpressive for Sportingbet, but a large influx from Australia proved to be the financial difference. The next year may be a bit difficult for the bookmaker, though, as new gambling laws in France are forcing the company’s withdrawal from that market.

Interactive Investor: Australia drives Sportingbet Q3

For the third quarter of its fiscal year, Sportingbet reported net gaming revenue to be up 29.8 percent to £55.7 million. Total bets in the period ending in April increased 22 percent to £521 million (approximately $750 million) wagered.

“Given the widely reported economic difficulties in Spain and Greece, which are two of our biggest markets,” said Sportingbet CEO Andrew McIver, “it is pleasing to report an 18 percent increase in profits.” Sportingbet business in Greece increased 8 percent, while Spain was stagnant for the bookmaker.

Sportingbet shares, which earlier in the week had hit a nine-month low at 57.5p, had rebounded by 3.7 percent to 62.5p on the morning of the announcement of results, valuing the company at £307 million.

McIver cited the advantages of geographical diversification business, and added that the company’s fourth quarter would be focused on the World Cup, repeating his comments of May that “much of how the remainder of this quarter performs will depend on the outcome of (the World Cup).”

In addressing next year’s results, Sportingbet stated that it would no longer be accepting bets from French players in light of the new licensing regulations for offshore online casino owners there. Sportingbet will apply for licensing in France, but due to the time involved plus some permanent loss of revenue, fiscal year 2011 is expected to be down for Sportingbet.

Financial Times: Australian profits drive Sportingbet

Since the Australian market showed in 19 percent raise in gross amount wagered in the third quarter of the fiscal year, Sportingbet was able to report a 13 percent jump in pre-tax profits.

Australian wagering at Sportingbet increased from £153.2 million to £182.1 million. Reasons given for the profitable quarter in Australia included “horse racing results that favored the bookmaker” and liberalization of advertising regulations in the country.

Sportingbet also reported weak intake from Spain and Greece, two markets that make up about 33 percent of Sportingbet revenue. For comparison, the bookmaker draws about 5 percent of its business from the U.K.

Sportingbet representatives also reported that they anticipate a further increase in revenues in the fourth quarter because of World Cup betting. Betting on soccer makes up 61 percent of sportsbook activity at Sportingbet.

Stock Markets Review: Sportingbet report Strong Q3 for sports and casino

Sportingbet’s fiscal results for quarter three were reported as strong, with net gaming revenue increasing 30 percent year-on-year (or 27 percent with exchange rate fluctuation taken into account). In addition to the excellent results in Australia, sports and casino growth in Europe was also called “strong.”

For Sportingbet, European sportsbook activity increased 21 percent YoY to £29.1 million. Casino gaming was up 17 percent to £11.6 million, with particular good results for the Sportingbet flash casino. Poker gaming at Sportingbet was down 10 percent YoY to £4.5 million.

With regard to the French market, Sportingbet indicated that it expected to receive sports, horseracing and poker licenses in early 2011 and that the company had already entered into marketing partnerships to advertise in “Le Monde” and “L’Express” newspapers.

Though still affected by the slumping worldwide economy, Sportingbet representatives were recently quite happy to announce the sportsbook’s profitable third-quarter results for the fiscal year. Key markets of Spain and Greece were unimpressive for Sportingbet, but a large influx from Australia proved to be the financial difference. The next year may be a bit difficult for the bookmaker, though, as new gambling laws in France are forcing the company’s withdrawal from that market.

Interactive Investor: Australia drives Sportingbet Q3

For the third quarter of its fiscal year, Sportingbet reported net gaming revenue to be up 29.8 percent to £55.7 million. Total bets in the period ending in April increased 22 percent to £521 million (approximately $750 million) wagered.

“Given the widely reported economic difficulties in Spain and Greece, which are two of our biggest markets,” said Sportingbet CEO Andrew McIver, “it is pleasing to report an 18 percent increase in profits.” Sportingbet business in Greece increased 8 percent, while Spain was stagnant for the bookmaker.

Sportingbet shares, which earlier in the week had hit a nine-month low at 57.5p, had rebounded by 3.7 percent to 62.5p on the morning of the announcement of results, valuing the company at £307 million.

McIver cited the advantages of geographical diversification business, and added that the company’s fourth quarter would be focused on the World Cup, repeating his comments of May that “much of how the remainder of this quarter performs will depend on the outcome of (the World Cup).”

In addressing next year’s results, Sportingbet stated that it would no longer be accepting bets from French players in light of the new licensing regulations for offshore online casino owners there. Sportingbet will apply for licensing in France, but due to the time involved plus some permanent loss of revenue, fiscal year 2011 is expected to be down for Sportingbet.

Financial Times: Australian profits drive Sportingbet

Since the Australian market showed in 19 percent raise in gross amount wagered in the third quarter of the fiscal year, Sportingbet was able to report a 13 percent jump in pre-tax profits.

Australian wagering at Sportingbet increased from £153.2 million to £182.1 million. Reasons given for the profitable quarter in Australia included “horse racing results that favored the bookmaker” and liberalization of advertising regulations in the country.

Sportingbet also reported weak intake from Spain and Greece, two markets that make up about 33 percent of Sportingbet revenue. For comparison, the bookmaker draws about 5 percent of its business from the U.K.

Sportingbet representatives also reported that they anticipate a further increase in revenues in the fourth quarter because of World Cup betting. Betting on soccer makes up 61 percent of sportsbook activity at Sportingbet.

Stock Markets Review: Sportingbet report Strong Q3 for sports and casino

Sportingbet’s fiscal results for quarter three were reported as strong, with net gaming revenue increasing 30 percent year-on-year (or 27 percent with exchange rate fluctuation taken into account). In addition to the excellent results in Australia, sports and casino growth in Europe was also called “strong.”

For Sportingbet, European sportsbook activity increased 21 percent YoY to £29.1 million. Casino gaming was up 17 percent to £11.6 million, with particular good results for the Sportingbet flash casino. Poker gaming at Sportingbet was down 10 percent YoY to £4.5 million.

With regard to the French market, Sportingbet indicated that it expected to receive sports, horseracing and poker licenses in early 2011 and that the company had already entered into marketing partnerships to advertise in “Le Monde” and “L’Express” newspapers.