Anurag Dikshit Sells Remaining Stake in Party Gaming, by Dan Cypra - Poker News Daily - 20th October 2009
According to an article that appeared in eGamingReview (EGR) on Tuesday and filings to the London Stock Exchange, Party Gaming Co-Founder Anurag Dikshit will sell his 28% share in the company for at least ₤188 million.
It’s a curious twist on a story that began developing last December, when Dikshit appeared in the Southern District Court in New York. The Party Gaming personality pled guilty to violating the Wire Act of 1961 and agreed to fork over $300 million to the U.S. Government. He also faces up to two years behind bars, with sentencing scheduled for 2010. Dikshit’s spokesperson, Shimon Cohen, told EGR, “Anurag has paid the $300 million fine that he was asked to pay by the U.S. authorities and has decided it is time to move away from the company.” The Wire Act has traditionally applied to online wagering on sports, not online poker. Read the entire EGR Anurag Dikshit article.
Dikshit was originally rumored to be selling two-thirds of his 28% stake in Party Gaming; however, EGR later reported that the entirety of his shares would be unloaded. PartyPoker, the online poker arm of Party Gaming, withdrew from the U.S. market in 2006 shortly after the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA), which was attached to the SAFE Port Act in the waning moments of that year’s Congressional session at the urging of then-Senate Majority Leader Bill Frist (R-TN). The regulations of the UIGEA were approved as midnight rules by the outgoing Bush Administration and will be fully enforced on December 1st.
In a filing to the London Stock Exchange on Tuesday, where Party Gaming is traded under the symbol “PRTY,” Anurag Dikshit, under the names BT Nominees Limited and Crystal Ventures Limited, is listed as selling 75 million shares of PRTY, or two-thirds of his original total. The filing explains, “Crystal Ventures Limited is wholly owned by BT Nominees Limited who hold shares in PartyGaming Plc under a declaration of trust in favor of Mr Dikshit.” Dikshit owned 113 million shares prior to the sale posted on Tuesday in London and retained nearly 39 million “indirect voting rights.” The sale of the remaining interest has not yet been posted.
At the close of trading on Tuesday in London, shares of PRTY were fetching 240.10p and EGR noted that Dikshit expects to pull in at least ₤188 million as a result of the transaction; the sum will be donated to charity. On Monday, PRTY was trading at 284p before Dikshit’s sale, which promptly sunk the share price by 15%. All told, Dikshit’s agreement with the U.S. Government last December ballooned the firm’s stock, which sat at below 140p before quickly climbing above 200p. Exactly one year ago, shares of PRTY were valued at 123p.
Ruth Parasol and Russ DeLeon, who founded Party Gaming along with Dikshit, were not expected to follow suit, according to EGR. In the meantime, PartyPoker officials have heralded the election of its ambassador, World Poker Tour (WPT) Host Mike Sexton, to the Poker Hall of Fame. Sexton is the lone representative of the Class of 2009 and will be officially inducted in ceremonies taking place on November 7th during the World Series of Poker (WSOP) Main Event final table. Sexton is a WSOP bracelet holder and re-signed with PartyPoker in April.
In August, Party Gaming acquired the WPT for $12.3 million, outbidding a subsidiary of Playtech, which owns and operates the massive iPoker Network. Four months earlier, the company entered into a Non-Prosecution Agreement with the U.S. Attorney’s Office for the Southern District of New York, agreeing to pay the Federal Government $105 million. In the process, Party Gaming admitted that it solicited U.S. customers prior to the UIGEA’s passage and agreed not to do so in the future until the industry is licensed and regulated. (Credit: Poker News Daily)
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Wednesday, October 21, 2009
ClubWPT.com Members Get a Shot to Play in Poker’s Most Exclusive Celebrity Tournament - 20th October 2009
Starting Tomorrow, Players Can Compete Every Week to Win One of Twelve Seats in the 8th Annual World Poker Tour® Invitational
LOS ANGELES -- Kicking off an 11-week tournament series tomorrow at 9 p.m. ET, www.ClubWPT.com is giving members the chance to win entry into the most exclusive tournament on the poker circuit — the 8th Annual WPT Invitational. Twelve winners will head to Los Angeles with $1,000 (USD) spending cash, two VIP party passes and a seat to play among the biggest names in Hollywood and poker in the televised World Poker Tour® (WPT) tournament.
Held annually at the Commerce Casino, the WPT Invitational is a red carpet, invitation-only event that brings together celebrities and poker pros to play for charity, a $200,000* prize pool, and a shot at a WPT title. Past attendees include pros Phil Hellmuth, Doyle Brunson, Daniel Negreanu, Phil Ivey, Mike Sexton, Vince Van Patten and 2009 Invitational champion Freddy Deeb, as well as Vince Vaughn, Paris Hilton, Ben Affleck, Jason Alexander, Mena Suvari, James Woods, and Don Cheadle, to name a few.
The 2010 WPT Invitational is currently scheduled for February 20 – 21*, with the final six players returning March 3 to battle it out on the WPT set in front of television cameras. The tournament will be filmed for broadcast on Fox Sports Net (FSN) in 2010.
The ClubWPT.com Invitational Seat tournament schedule is as follows*. All tournaments begin at 9 p.m. ET. Visit www.ClubWPT.com for more information:
Wednesday, Oct. 21
Wednesday, Oct. 28
Sunday, Nov. 1
Wednesday, Nov. 11
Sunday, Nov. 15
Wednesday, Nov. 25
Wednesday, Dec. 2
Sunday, Dec. 6
Wednesday, Dec. 16
Sunday, Dec. 20
Wednesday, Dec. 30
Sunday, Jan. 3
ClubWPT.com — the World Poker Tour’s online subscription poker room — gives poker players a legal, risk-free way to play online poker to win big cash and prizes, including $10,000 WPT main event seats, WPT Boot Camp seats, and more. For $19.95 monthly subscription, members can play in thousands of poker and blackjack tournaments for their share of $100,000 in cash and prizes each month plus exclusive benefits like $3,000 in Las Vegas VIP discounts and access to watch full WPT Season VII episodes online. For more information, visit www.ClubWPT.com.
No purchase is necessary for the www.ClubWPT.com sweepstakes and the service is void in states where prohibited. Must be 18 years or older to play.
*Dates, times and prize pool subject to change.
ABOUT WPTE
WPT Enterprises, Inc. is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. WPTE has led innovation in the sport of poker since 2002, when it ignited the global poker boom with the creation of the World Poker Tour television show based on a series of high stakes poker tournaments. WPT is now broadcast globally and is currently filming its all-new eighth season for broadcast on Fox Sports Net’s national sports network in the United States. WPTE also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the U.S. WPTE also participates in strategic brand license, partnership and sponsorship opportunities. For more information, see www.worldpokertour.com. (WPTEG)
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Starting Tomorrow, Players Can Compete Every Week to Win One of Twelve Seats in the 8th Annual World Poker Tour® Invitational
LOS ANGELES -- Kicking off an 11-week tournament series tomorrow at 9 p.m. ET, www.ClubWPT.com is giving members the chance to win entry into the most exclusive tournament on the poker circuit — the 8th Annual WPT Invitational. Twelve winners will head to Los Angeles with $1,000 (USD) spending cash, two VIP party passes and a seat to play among the biggest names in Hollywood and poker in the televised World Poker Tour® (WPT) tournament.
Held annually at the Commerce Casino, the WPT Invitational is a red carpet, invitation-only event that brings together celebrities and poker pros to play for charity, a $200,000* prize pool, and a shot at a WPT title. Past attendees include pros Phil Hellmuth, Doyle Brunson, Daniel Negreanu, Phil Ivey, Mike Sexton, Vince Van Patten and 2009 Invitational champion Freddy Deeb, as well as Vince Vaughn, Paris Hilton, Ben Affleck, Jason Alexander, Mena Suvari, James Woods, and Don Cheadle, to name a few.
The 2010 WPT Invitational is currently scheduled for February 20 – 21*, with the final six players returning March 3 to battle it out on the WPT set in front of television cameras. The tournament will be filmed for broadcast on Fox Sports Net (FSN) in 2010.
The ClubWPT.com Invitational Seat tournament schedule is as follows*. All tournaments begin at 9 p.m. ET. Visit www.ClubWPT.com for more information:
Wednesday, Oct. 21
Wednesday, Oct. 28
Sunday, Nov. 1
Wednesday, Nov. 11
Sunday, Nov. 15
Wednesday, Nov. 25
Wednesday, Dec. 2
Sunday, Dec. 6
Wednesday, Dec. 16
Sunday, Dec. 20
Wednesday, Dec. 30
Sunday, Jan. 3
ClubWPT.com — the World Poker Tour’s online subscription poker room — gives poker players a legal, risk-free way to play online poker to win big cash and prizes, including $10,000 WPT main event seats, WPT Boot Camp seats, and more. For $19.95 monthly subscription, members can play in thousands of poker and blackjack tournaments for their share of $100,000 in cash and prizes each month plus exclusive benefits like $3,000 in Las Vegas VIP discounts and access to watch full WPT Season VII episodes online. For more information, visit www.ClubWPT.com.
No purchase is necessary for the www.ClubWPT.com sweepstakes and the service is void in states where prohibited. Must be 18 years or older to play.
*Dates, times and prize pool subject to change.
ABOUT WPTE
WPT Enterprises, Inc. is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. WPTE has led innovation in the sport of poker since 2002, when it ignited the global poker boom with the creation of the World Poker Tour television show based on a series of high stakes poker tournaments. WPT is now broadcast globally and is currently filming its all-new eighth season for broadcast on Fox Sports Net’s national sports network in the United States. WPTE also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the U.S. WPTE also participates in strategic brand license, partnership and sponsorship opportunities. For more information, see www.worldpokertour.com. (WPTEG)
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PARTYPOKER.COM INTRODUCES BOUNTY TOURNAMENTS
The Million Dollar Hand at http://www.partypoker.com is underway! So far there has been 42,834 pairs, 4,889 two pair, 2172 three of a kind, 392 straights, 272 flushes, 152 full houses, 25 four of a kind and 3 straight flushes. In the last 7 days alone there has been two $10,000 straight flush payouts!
Gibraltar – 20th October 2009 -- PartyPoker.com is pleased to announce that its latest software update sees the introduction of fantastic new bounty tournaments from tomorrow onwards. This is the highlight of a product upgrade that also sees the introduction of a ‘remember table layout’ feature and enhanced players notes.
Bounty tournaments allow players to get paid for knocking other players out. PartyPoker.com will take part of the buy-in and put it towards a bounty for each player. For example, PartyPoker.com could take $5 of a player’s $20 + $2 buy-in to create their bounty, with the other $15 going towards the prize pool. The bounty winnings are credited to a player’s account immediately.
The new ‘remember table layout’ feature has to be enabled but once it is this feature will remember the layout of tables when closed and will open new tables at the same size and in the same position. If a player changes the layout of their tables it will open the next new table in the same position as the last one closed. This isn’t a default feature, players have to tick the ‘remember table layout’ check box under Preferences/General/General Options to activate the feature. This feature will remember the layouts on the specific computer a player is playing on, layouts will also be remembered on a secondary monitor. The new enhanced player notes feature makes it even easier to make notes on opponents. All a player has to do is double-click on the player’s image at the table to open the ‘Notes’ section with their name already entered in the ‘Select Player’ field.
For more information see: http://www.partypoker.com/how_to_play/using-our-poker-table/latest-feature
A PartyPoker.com spokesman said: “We are always listening to customers and consistently striving to improve our product. The introduction of new bounty tournaments adds an exciting fun dimension to play. These changes come on top of the introduction of the hand history replayer and super speed games last month. Coming up in the future is the introduction of RSA tokens and synchronized breaks.”
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The Million Dollar Hand at http://www.partypoker.com is underway! So far there has been 42,834 pairs, 4,889 two pair, 2172 three of a kind, 392 straights, 272 flushes, 152 full houses, 25 four of a kind and 3 straight flushes. In the last 7 days alone there has been two $10,000 straight flush payouts!
Gibraltar – 20th October 2009 -- PartyPoker.com is pleased to announce that its latest software update sees the introduction of fantastic new bounty tournaments from tomorrow onwards. This is the highlight of a product upgrade that also sees the introduction of a ‘remember table layout’ feature and enhanced players notes.
Bounty tournaments allow players to get paid for knocking other players out. PartyPoker.com will take part of the buy-in and put it towards a bounty for each player. For example, PartyPoker.com could take $5 of a player’s $20 + $2 buy-in to create their bounty, with the other $15 going towards the prize pool. The bounty winnings are credited to a player’s account immediately.
The new ‘remember table layout’ feature has to be enabled but once it is this feature will remember the layout of tables when closed and will open new tables at the same size and in the same position. If a player changes the layout of their tables it will open the next new table in the same position as the last one closed. This isn’t a default feature, players have to tick the ‘remember table layout’ check box under Preferences/General/General Options to activate the feature. This feature will remember the layouts on the specific computer a player is playing on, layouts will also be remembered on a secondary monitor. The new enhanced player notes feature makes it even easier to make notes on opponents. All a player has to do is double-click on the player’s image at the table to open the ‘Notes’ section with their name already entered in the ‘Select Player’ field.
For more information see: http://www.partypoker.com/how_to_play/using-our-poker-table/latest-feature
A PartyPoker.com spokesman said: “We are always listening to customers and consistently striving to improve our product. The introduction of new bounty tournaments adds an exciting fun dimension to play. These changes come on top of the introduction of the hand history replayer and super speed games last month. Coming up in the future is the introduction of RSA tokens and synchronized breaks.”
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Tuesday, October 20, 2009
PartyGaming falls; co-founder to cut stake - 20th October 2009
Shares in PartyGaming (PRTY.L) fall 12 percent to 250 pence after Indian billionaire Anurag Dikshit says he intends to sell two-thirds of his 28 percent stake in the world's biggest online gambling firm via an accelerated offering to institutional shareholders.
Nick Batram, an analyst at KBC Peel Hunt, expects the placing to be at a discount to Monday's closing price of 284.5 pence.
"My thoughts are probably somewhere between 250 and 260. I'm hearing talk the range is 255 to 275. If they get it towards the top end of that range that would suggest pretty good demand," he says.
Batram sees the move as positive for the company as it will increase its free float and bring more institutional investors on board. (Credit: Wires, Google News)
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Shares in PartyGaming (PRTY.L) fall 12 percent to 250 pence after Indian billionaire Anurag Dikshit says he intends to sell two-thirds of his 28 percent stake in the world's biggest online gambling firm via an accelerated offering to institutional shareholders.
Nick Batram, an analyst at KBC Peel Hunt, expects the placing to be at a discount to Monday's closing price of 284.5 pence.
"My thoughts are probably somewhere between 250 and 260. I'm hearing talk the range is 255 to 275. If they get it towards the top end of that range that would suggest pretty good demand," he says.
Batram sees the move as positive for the company as it will increase its free float and bring more institutional investors on board. (Credit: Wires, Google News)
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Casino News Media - Global Gaming Directory - Media Man Australia News Update - 20th October 2009
PartyCasino.com new slot games mega popular
Captain Cooks Casino makes challenge for Casino News Media "Online Casino of the Month" award
Harrah’s Hires Former Disney Exec
Media Man Australia Crown Limited and Virgin Blue shares purchase stirs up Aussie media
Crown Casino Aussie Millions 2010 to be biggest and best ever, says insider
Ramesses Riches online slot game winning over some Cleopatra and Tomb Raider fans
Virgin Casino player numbers up in Europe; Richard Branson works his magic with Virgin Bingo
Hollywood and super hero slot games rumoured to hit Noble Casino
InterCasino ramps up with DC Comics Batman and Wonder Woman
Live Dealer by PartyGaming a huge hit with punters
Aussie Online Casino website portal on the cards for Media Man Australia network
Playtech - Sega deal moves forward; expect games before Christmas
Captain Cooks Casino - Bill and Ted's Excellent Adventures is way cool man says slot fans
Marvel slots - Iron Man II and Thor movies in development already boosting popularity of games
France: The French National Assembly has approved a new law that would allow online poker and other formerly restricted forms of online gambling
Tasmania - country nears closer to becoming major gambling and racing centre of universe
Poker media - Doyle Brunson not a fan of poker reality TV shows
Search engines - igaming industry and punters prefer organic search engine results over paid listings
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PartyCasino.com new slot games mega popular
Captain Cooks Casino makes challenge for Casino News Media "Online Casino of the Month" award
Harrah’s Hires Former Disney Exec
Media Man Australia Crown Limited and Virgin Blue shares purchase stirs up Aussie media
Crown Casino Aussie Millions 2010 to be biggest and best ever, says insider
Ramesses Riches online slot game winning over some Cleopatra and Tomb Raider fans
Virgin Casino player numbers up in Europe; Richard Branson works his magic with Virgin Bingo
Hollywood and super hero slot games rumoured to hit Noble Casino
InterCasino ramps up with DC Comics Batman and Wonder Woman
Live Dealer by PartyGaming a huge hit with punters
Aussie Online Casino website portal on the cards for Media Man Australia network
Playtech - Sega deal moves forward; expect games before Christmas
Captain Cooks Casino - Bill and Ted's Excellent Adventures is way cool man says slot fans
Marvel slots - Iron Man II and Thor movies in development already boosting popularity of games
France: The French National Assembly has approved a new law that would allow online poker and other formerly restricted forms of online gambling
Tasmania - country nears closer to becoming major gambling and racing centre of universe
Poker media - Doyle Brunson not a fan of poker reality TV shows
Search engines - igaming industry and punters prefer organic search engine results over paid listings
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Monday, October 19, 2009
Party Poker signs the 2009 Aussie Million Champion - 2nd October 2009
The Aussie Millions has become a traditional tournament for many poker players around the globe, as it currently stands as the sixth biggest tournament in the world. For the 2010 main event 800 players are expected. In 2009 the Aussie Millions was home to the world’s largest cash game – a AUD$1 million buy-in.
The first Aussie Millions had a one thousand dollar buy-in and a $74k prize pool. The Aussie Millions has made history and for 2010 the buy-in will be $10,500 and the prize pool will have AUD$2 million.
For the 2009 main event Australian player Stewart Scott gave an outstanding performance and managed to win the first place prize of AUD$2 million. Since then he has placed third in the Five Star World Poker Classic event 15 and finished in 25th place at the APPT Macau.
Party Poker recently announced that the 09 Aussie Millions Champion Stewart Scott has joined their team of pros and will be representing their online poker room at the 2010 event. He will also be participating in a poker tour across Australia that will promote the Aussie Millions and the Stewart Scott invitational events.
Online qualifiers to the Aussie Millions will be available at Party Poker in November. (Credit: Poker News Daily)
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The Aussie Millions has become a traditional tournament for many poker players around the globe, as it currently stands as the sixth biggest tournament in the world. For the 2010 main event 800 players are expected. In 2009 the Aussie Millions was home to the world’s largest cash game – a AUD$1 million buy-in.
The first Aussie Millions had a one thousand dollar buy-in and a $74k prize pool. The Aussie Millions has made history and for 2010 the buy-in will be $10,500 and the prize pool will have AUD$2 million.
For the 2009 main event Australian player Stewart Scott gave an outstanding performance and managed to win the first place prize of AUD$2 million. Since then he has placed third in the Five Star World Poker Classic event 15 and finished in 25th place at the APPT Macau.
Party Poker recently announced that the 09 Aussie Millions Champion Stewart Scott has joined their team of pros and will be representing their online poker room at the 2010 event. He will also be participating in a poker tour across Australia that will promote the Aussie Millions and the Stewart Scott invitational events.
Online qualifiers to the Aussie Millions will be available at Party Poker in November. (Credit: Poker News Daily)
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Sunday, October 18, 2009
Party Gaming Revenue Down 4% in Q3 2009, by Tom Jenkins - 16th October 2009
In figures recently released by Party Gaming, the parent company of PartyPoker, revenues were off 4% in Q3 2009 compared to Q2. Company officials noted that the decrease was “in line with the normal seasonal pattern seen in previous years.”
The acquisition of Cashcade actually ballooned Party Gaming’s revenue to $112.7 million during the third quarter, up 11% from Q2. However, removing Cashcade’s impact meant that revenues decreased 4%. PartyPoker revenues were $45.1 million during the most recent three-month period, a slide of 8% versus Q2. Party Gaming management attributed the fall to “higher player numbers offset by lower yields.” The $45.1 million in poker revenue represented a significant dip from the $65.0 million reported in Q3 2008.
PartyCasino’s revenue clocked in at $49.2 million, up 2% from the previous quarter, and the company’s sports book revenue registered at $4.2 million, up 31%. The company reported Bingo revenues of $13.8 million, nearly seven times the total accrued by the division during the same period last year. Party Gaming CEO Jim Ryan commented in the company’s release to the London Stock Exchange, “Poker remains challenging from a competitive standpoint, but we are encouraged by the increased player traffic during September and into October on the back of our new retention initiatives such as the enhanced loyalty program, improved VIP offer, and automated reactivation campaigns.”
Party Gaming boasted a base of 7.3 million users in 2009, up 24% from the 5.9 million users it placated to in 2008. The online giant played host to 79,200 average daily players, up from 63,900 in 2008, or 24%. However, its yield per active player day was down significantly in the third quarter of 2009 to $15.40, a slide of 23% year over year and 11% quarter over quarter. The company blamed the dip on “higher bonus costs driven by the acquisition of Cashcade and the costs associated with the new retention initiatives.”
A total of 208,100 new real money sign-ups occurred during Q3 2009 company-wide, a climb of 51% from the 137,600 who registered during Q3 2008. The number of unique active players during the period was 726,300, up 35% from 2008, and the company reported average daily net revenue of $1.2 million, down 5% from 2008, but up 10% over the previous quarter.
All told, PartyPoker boasted 4.6 million active players during the third quarter of 2009, a slide of 2% year over year. The online poker site, which does not accept customers from the United States, hosted 50,400 daily average players, even with 2008 figures, and a $9.70 yield per active player day, down 31% from the $14 recorded last year. PartyPoker saw 120,100 new real money sign-ups during the third quarter, up a colossal 30% from the 92,100 who signed up during Q2 2008. PartyPoker had average daily net revenues of $489,700, a dip of 31% year over year and 9% quarter over quarter.
Company officials explained the poker business unit’s lackluster performance: “Despite the competitive challenges in poker, we continued to sign up large numbers of new players and achieved an absolute increase in player numbers versus the previous quarter despite seasonality. Player yields declined year-on-year due to foreign exchange movements as well as competitive pressures.” On Thursday, it was announced that PartyPoker Ambassador Mike Sexton is the lone member of the Poker Hall of Fame Class of 2009. The World Series of Poker (WSOP) bracelet winner has served as the host of the World Poker Tour (WPT) since it debuted on The Travel Channel in the United States in 2003.
According to PokerScout.com, PartyPoker is the fourth largest online poker site worldwide, featuring a seven-day running average of 5,200 real money ring game players. During its peak hours, which occur in the evening throughout Europe, over 10,000 cash game players can be found on its felts. Party Gaming is traded on the London Stock Exchange under the symbol “PRTY.” (Credit: Poker News Daily)
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In figures recently released by Party Gaming, the parent company of PartyPoker, revenues were off 4% in Q3 2009 compared to Q2. Company officials noted that the decrease was “in line with the normal seasonal pattern seen in previous years.”
The acquisition of Cashcade actually ballooned Party Gaming’s revenue to $112.7 million during the third quarter, up 11% from Q2. However, removing Cashcade’s impact meant that revenues decreased 4%. PartyPoker revenues were $45.1 million during the most recent three-month period, a slide of 8% versus Q2. Party Gaming management attributed the fall to “higher player numbers offset by lower yields.” The $45.1 million in poker revenue represented a significant dip from the $65.0 million reported in Q3 2008.
PartyCasino’s revenue clocked in at $49.2 million, up 2% from the previous quarter, and the company’s sports book revenue registered at $4.2 million, up 31%. The company reported Bingo revenues of $13.8 million, nearly seven times the total accrued by the division during the same period last year. Party Gaming CEO Jim Ryan commented in the company’s release to the London Stock Exchange, “Poker remains challenging from a competitive standpoint, but we are encouraged by the increased player traffic during September and into October on the back of our new retention initiatives such as the enhanced loyalty program, improved VIP offer, and automated reactivation campaigns.”
Party Gaming boasted a base of 7.3 million users in 2009, up 24% from the 5.9 million users it placated to in 2008. The online giant played host to 79,200 average daily players, up from 63,900 in 2008, or 24%. However, its yield per active player day was down significantly in the third quarter of 2009 to $15.40, a slide of 23% year over year and 11% quarter over quarter. The company blamed the dip on “higher bonus costs driven by the acquisition of Cashcade and the costs associated with the new retention initiatives.”
A total of 208,100 new real money sign-ups occurred during Q3 2009 company-wide, a climb of 51% from the 137,600 who registered during Q3 2008. The number of unique active players during the period was 726,300, up 35% from 2008, and the company reported average daily net revenue of $1.2 million, down 5% from 2008, but up 10% over the previous quarter.
All told, PartyPoker boasted 4.6 million active players during the third quarter of 2009, a slide of 2% year over year. The online poker site, which does not accept customers from the United States, hosted 50,400 daily average players, even with 2008 figures, and a $9.70 yield per active player day, down 31% from the $14 recorded last year. PartyPoker saw 120,100 new real money sign-ups during the third quarter, up a colossal 30% from the 92,100 who signed up during Q2 2008. PartyPoker had average daily net revenues of $489,700, a dip of 31% year over year and 9% quarter over quarter.
Company officials explained the poker business unit’s lackluster performance: “Despite the competitive challenges in poker, we continued to sign up large numbers of new players and achieved an absolute increase in player numbers versus the previous quarter despite seasonality. Player yields declined year-on-year due to foreign exchange movements as well as competitive pressures.” On Thursday, it was announced that PartyPoker Ambassador Mike Sexton is the lone member of the Poker Hall of Fame Class of 2009. The World Series of Poker (WSOP) bracelet winner has served as the host of the World Poker Tour (WPT) since it debuted on The Travel Channel in the United States in 2003.
According to PokerScout.com, PartyPoker is the fourth largest online poker site worldwide, featuring a seven-day running average of 5,200 real money ring game players. During its peak hours, which occur in the evening throughout Europe, over 10,000 cash game players can be found on its felts. Party Gaming is traded on the London Stock Exchange under the symbol “PRTY.” (Credit: Poker News Daily)
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