Posts Tagged ‘online poker’

Newer Entries »

Party Gaming Reports Impressive Revenue Growth for 2009

Monday, February 8th, 2010
Impressive Revenue at Party Gaming

Impressive Revenue at Party Gaming

It shouldn’t be a surprise that Party Gaming’s 2009 End of Year report shows a massive 32% increase in sales revenue. Being one of the more popular names and brands in the online gambling industry, not to mention the fact that online gambling hasn’t really taken that much of a loss in spite of the 2009 recession, or rather, economic crisis, I personally would not have been surprised if Party Gaming reported even higher earnings. Such is the life of big online gambling giants, no matter if they’re in the U.S. market or not.

Party Gaming’s third quarter’s revenue topped in at $100.4 Million, while the last quarter alone saw a 32% increase, topping $132 Million. Much of the increase in revenue is being attributed to a new online bingo and online casino operator in the Party Gaming network, while the vast majority of the revenue itself has been generated by Party Gaming affiliates (no surprise there).

With the addition Cashcade Limited and implementation of what Party Gaming likes to call “effective promotions” (meaning larger bonuses) and better loyalty rewards (all thanks in lieu to increased competition), Party Gaming was able to recapture the #1 spot in the world for poker liquidity (non U.S. facing) and increased player retention levels. This was a risky move, to say the least, but ended up paying off huge, resulting in 7% more active player days from Q3 and 24% more activity than the previous year.

2010 is already looking promising for Party Gaming with the integration of Cashcade and the World Poker Tour right on schedule. Party Gaming execs also remain hopeful that the introduction of online casino games, poker and bingo in the Italian market during the first half of 2010, online gambling liberalization in France (slated for the second half of 2010) and Denmark (2011) will bring another surge in revenue to Party Gaming throughout the next couple of years.

On another note, Party Gaming has appointed former Chief Executive Officer and Director of Mangas Gaming Malta Limited, Per Widerstrom, as Chief Operating Officer. With a wealth of experience in the online sports betting sector, perhaps that is a direction that Party Gaming is hoping to ramp up even more in 2010?

Tags: , , , ,
Posted in Games, News, Uncategorized | No Comments »

Quebec Hoping to Regulate Online Poker and Sports Betting Later This Year

Sunday, February 7th, 2010

Quebec to Liberalize the Maple Leaf?

Quebec to Liberalize the Maple Leaf?

It really does seem like online gambling regulation has been the sole focus of the Online Casino Suite Blog these past few days. But what can I say, it’s not my fault. Blame it on the lack of regulation in “certain” countries. Or for a more optimistic view, perhaps I should say, blame it on a shifting regulatory landscape amidst the major player’s in the industry. Obviously, the United States is one of the major players I am referring to, and of late, has been at the middle of a heightened battled to implement an online gambling ban while regulatory legislation simultaneously makes it’s way into the House of the Representatives. Oh, and let’s not forget the Super Bowl.

Another major player in the internet gaming industry is Canada, which has long taken the same stance which the United States did before the passing of the UIGEA. And that, my friends, is the stance I like to call “shifty”. You know, the classic middle-gray area where you keep both sides of the gulf appeased as best as possible. Then again, shiftiness oftentimes comes down to the execution of power, or the lack thereof.

And in the case of Canada, it has mostly been the latter. You see Canada is essentially home to the Kahnawake tribe, which just so happens to operate one of the largest online casino and poker regulatory commissions in the online gambling industry. While Kahnawake operating licensees are free to take bets from citizens wherever they choose, there is no denying the fact that Canadians are giving lots of potential tax dollars to the Kahnawake Gaming Commission, not to mention several other regulatory bodies. More precisely, it is estimated the Canadian online gambling industry is worth $675 million.

Perhaps this is why Canada now appears to be taking a more tolerant air toward the idea of regulation. Although it looks as if only online poker and sports betting is being considered for the time being, it’s a start, nonetheless – And a good start at that. This week, Quebec’s Finance Minister announced plans to introduce online poker by September of 2010, with major support from Loto Quebec (no surprise there). Of course, the opposition is already on it’s high horse, citing that online gambling will only increase underage and problem gamblers. However, Loto Quebec has been just as quick to retort with evidence of reports and public health studies showing otherwise.

Of course, nothing is certain at this stage in the process. There is still a long way to go before Quebec will be out of the clear and given a green light to begin regulating online poker and sports betting. Let’s just say the prospects are looking really, really good.

DISCUSS THIS STORY HERE ON THE OCS ONLINE GAMBLING FORUM

Tags: , , ,
Posted in News, Regulation | 2 Comments »

Newer Entries »