PartyGaming reveal upbeat results
PartyPoker.com owner PartyGaming today said it remained confident over prospects this year after unveiling better-than-expected interim results.
The company was rocked last October by US legislation outlawing online gambling, but half-year underlying earnings for the continuing business came in 29% higher at $36.9m (€27m) and ahead of the $31.4m (€23m) predicted by analysts.
PartyGaming, which saw its shares soar on the results, has embarked on an aggressive strategy to gain new players following the US ban and today reported an 83% rise in new player sign-ups to 403,700 in the first half of the year.
The company said: "While regulatory uncertainties continue in a number of territories, the board remains confident about the group's prospects for the full year."
Including the discontinued US business, PartyGaming incurred pre-tax losses of $47.1m (€34.5m) on revenues down 68% to $212.5m (€155.6m).
But PartyGaming added that it was set to announce a series of tie-ups with major companies to boost the business later this year, while the firm also hopes to exploit a growing Asian market with the opening of an office in the region later this year.
