New Online Games Added at PartyGaming

30 June 2006

PartyGaming is a year old as a listed company and things are smoothing out after a rocky beginning on the London Stock Exchange. This is due in part to the extremely favorable financial gains in first quarter revenue and a record number of new player registrations at their sites.

The fast growing company has now added a new product to their stable, PartyGammon. With the recent popularity Backgammon has been enjoying the last few years, this addition is welcomed by millions of backgammon players world wide. PartyGammon joins PartyPoker offering free online games to backgammon and poker players.

The financial forecast for PartyGaming predicts their earnings will reflect a 50% earnings growth for this year. So why is the stock price so low? Two possible reasons have been discussed. First, the slated gambling legislation currently being debated in the U.S.Congress. It’s been estimated that over 80% of PartyGaming’s poker players live in the U.S. Until the legality of online gambling has been defined, investors maintain a ‘wait and see’ stance.

The second reason is the loss of PartyGaming’s top management. To complicate matters, the departed executives have been dumping their shares, leading investors to take an ‘approach with caution’ attitude.

Related News

  • 28 March 2006

    Online casino software outfit Playtech debuts on London's mini market.

    March 28, 2006 AIM, the London Stock Exchange’s market for emerging international companies, saw one of its largest IPOs Tuesday as Playtech made its public debut, valuing the software maker for online casinos at nearly $1 billion. Based in the British Virgin Islands, but with roots and a tech team in the Baltic nation of Estonia, seven-year-old Playtech began trading at $4.50 per share, raising $55.6 million.

    Read full article
  • 13 August 2006

    BetOnSports folds to US

    INB – Internet News Bureau August 11, 2006 BetonSports Folds U.S. Hand By Roy Mark Betonsports.com is folding its U.S. hand. With the British-based company named in a 22-count indictment for violating American gambling laws and its former CEO sitting in a St. Louis jail, BetonSports said Friday it was permanently cutting off access to its site for U.S. bettors. The site has been dark for American online gamblers since last month when a U.S.

    Read full article
  • 08 September 2006

    Arrest adds pressure on Internet gaming

    THE BOSTON GLOBE By Jeff Douglas, Associated Press Writer September 8, 2006 ST. LOUIS –Gambling industry experts agree: If you operate an offshore gaming Web site, stay out of the U.S. Moments after stepping foot on American soil Thursday, Sportingbet PLC Chairman Peter Dicks became the second British offshore sports betting executive arrested in recent months for illegal online gambling in the U.S.

    Read full article