Australian Gambling, Betting, Sports and Political News; Massive News Week Down Under, by Greg Tingle - 19th February 2010
It's been a massive week for the gambling, igaming, sports betting and political news world.
iGaming powerhouses PartyGaming and Virgin Games at "war"
PartyGaming's PartyCasino continues its mega popularity in the Asia Pacific - Australian region. Richard Branson's Virgin Casino has just released Call Of Duty 4: Modern Warfare (which Party already has). Virgin also advises Thor will be released this. With Party and Virgin offering Call of Action, Thor and soon, King Kong, this is likely to further damage InterCasino which had the games over a year ago however failed to make the most of the lucrative and exciting Asia Pacific region. Aussie punters take note... PartyGaming's brands are available for play in Australia and other Asia Pacific regions, while Virgin Games products are not... Sir Richard Branson, can you fix that up? PartyGaming stays #1 in the Australian iGaming - online casino sector for the time being.
Politics
A massive week in Australian politics... Australian casino king James Packer spotted playing golf with Sen Stephen Conroy two Sundays ago. Their spot of golf at Lord Williams private golf club coincidentally (or not) came on the same day that the government announced a $250 million licence fee reduction for free-to-air television stations. Insiders including those at The Sydney Morning Herald reckon that Mr Packer has been twisting Conroy's arm about a fairer deal for Foxtel. Mr Packer owns a 25% interest in pay television station Foxtel.
Opposition Leader, Tony Abbott, has labelled the 250 million as an attempt by the government to bribe the networks in return for favourable coverage in an election year.
Mr Abbott backed off only a little yesterday after the networks expressed their displeasure. "The last thing I would ever do is accuse professional journalists of being bribable but certainly this is a government which is always looking for favours."
Mr Packer's casino business in Australia and Macau continue to power along, however Crown Melco has ceased plans to buy into a third casino in downtown Macau. Aussie insiders reckon Sen Conroy doesn't mind being mentioned in the same vein at "Casino Jack and the United States of Money".
Gamers and igamers are a dangerous lot says Australian police and politicians. South Australian Attorney-General Michael Atkinson this week caused a furore by claiming his family was more at risk from gamers than motorcycle gangs!
Australian bookies and Joe Public on the street reckon that there's at least a reasonable chance that the Labor Party will be thrown out of office at the next election. Prime Minster Rudd has even publicly and privately advised that there's a chance they will loose the election. Media Man says never underestimate the power and repercussions of jackass policy (Australian internet censorship filter). Australian are well known for the passion of gambling and porn, both of which can be addictions of sorts, so if you attack that too much, you might kiss the election goodbye nurse.
Tony "The Bruiser" Abbot VS Kevin "Bloody" Rudd
The election polls suggest a comeback and now the punters are starting to see value in the straight-talking Tony Abbott. Bookies say the 2010 federal election is now shaping up as a contest, with 80 per cent of recent bets backing the new Liberal Leader against Prime Minister Kevin Rudd. Mr Rudd is still odds-on favourite, returning just $1.20 from Centrebet if he stays in The Lodge. But the Coalition under Mr Abbot has tightened to $3.85 - the first time it has been under $4 in more than a year. The betting market rally follows several polls suggesting a modest turnaround in political fortunes. Centrebet's Neil Evans said the agency had been forced to reassess its prices after several big bets in recent days. One punter wagered $10,000 on Mr Abbott at $4.25, and another invested $5000 at $4. "Of the last 50 bets of any amount that have been laid, nearly 80 per cent is for the Coalition," Mr Evans said. "It's the first crucial sign the Coalition is getting right back into the battle after the Labor government had dominated with punters for two years." He said Centrebet was holding about $160,000 on the election contest, with about 75 per cent on Labor to win. August 28 is firming at the most likely election date, according to Centrebet punters.
Sports and Olympic Fever
Between the Vancouver Games, UFC 110 in Sydney and bits and bobs there's serious betting occurring this week.
Australia's Torah Bright snowboarding champion babe wins Gold!
UFC 110 in Sydney, Australia this Sunday 21st - betting by punters has been hot and heavy with PartyBets, Gamebookers, BetUS.com and others all taking considerable bets, which is not surprising considering UFC's Dana White advised the Sydney live event sold out in less that a day and that Australia is one of the strongest markets for DVD sales.
Real heat exists between Noguiera and Velasquez and things got testy at yesterdays press conference.
George Sotiropoulos is the leading Australian contender at present, a lightweight who is unbeaten in the UFC and facing Joe Stevenson on the UFC 110 main card. Like Sinosic and Haseman before him, he can be this generation’s trailblazer for MMA in Australia. But fight fans won’t soon forget the first two.
“Both of us put in the hard yards,” said Sinosic. “When we started, it wasn’t mixed martial arts, it was no holds barred, and we were really discovering what it was all about. It’s great to get the recognition ourselves, but more importantly to see the sport get the recognition and respect it deserves. To see the mainstream press here treating us like athletes and not like barroom brawlers, I’m just glad to be a part of it all.”
ONE will broadcast the event live in Australia this Sunday.
Casino Legal
The Australian Productivity Commission will finally release the Gambling Report this week, insiders say within days.
PartyGaming delighted with progress in Asia Pacific
PartyGaming CEO and management is very happy with the outfits continued infiltration of Australia and the Asia Pacific region in general. Ryan has given clearance to keep signing up celebs for their poker and casino brands, following up on Aussie Tony G and Pommie Phil "Tuffers" Tufnell.
Party PR man, Warren Lush, expects to be heading back to the Asian Poker Tour in August. The event is likely to be held again in gaming hotspot Macau.
The group finance director Martin Weigold told media on a conference call following the quarter results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.
Party also announced the appointment of Per Widerstrom, previously CEO of Mangas Gaming, to the newly created role of COO, effectively freeing up CEO Jim Ryan to focus on M&A and new business opportunities.
Poker
Rennie Carnevale won the Adelaide heat of the Australia New Zealand Poker Tournament held this past weekend. The 21 year old picked up a cool $165,900. PokerStars remains the poker brand behind the well established and respected poker event.
Horse Racing
Veteran bookmaker Con Kafataris will hang up his satchel after 34 years on Sydney racetracks to concentrate on his online betting agency, Centrebet. The managing director of Centrebet said he would close CK Racing, the on-track bookmaking operation, after the Easter racing carnival because of regulatory reforms around corporate rivals and the changing composition of traditional punters. The announcement came as Centrebet recorded a first-half net profit of $6.3 million, up 19 per cent on the same time last year, and declared a 5.5c unfranked dividend which represented a 77 per cent payout ratio. "It's a combination of factors; the global financial crisis which started a year ago has impacted the high-end recreational punter that would come to the track," Mr Kafataris said. "They stopped coming to the track or they reduced their activity". Just maybe Con or his spies noticed that Media Man just joined dozens of others who are in the online racing and betting sector with the launch of http://www.racingnewsmedia.com The worst kept secret in Australian racing is that betting giant Betfair has significantly hurt the bottom line of the traditional TAB and bookie on track takings.
Aussie Female Gamblers - University Of Queensland Report
Typical Australian gamblers are no longer just men playing poker, with more women becoming addicted, isolated and even suicidal, a researcher from The University of Queensland has warned. UQ School of Tourism researcher and hospitality management lecturer, Dr Timothy Lee, says gambling in Australia is becoming more and more ``feminised''. Dr Lee says a third of problem gamblers are women at a time when Australia leads the world in the number of poker machines and $6 million a day is pushed through their slots!
Court orders gambler to pay up US$1m
An Australian gambler who lost more than US$1 million at a Bahamas casino while on his honeymoon in 2006 has been ordered to pay up by a Melbourne court. Former high-flying property developer Harry Kakavas had argued unsuccessfully that Paradise Island Casino in Nassau had taken advantage of his addiction to gambling. It was a second legal setback for Kakavas, who in December last year was ordered to pay Melbourne's Crown Casino the AU$1 million he owed.
Meet Australia's biggest punter
Meet Australia's most mysterious gambling figure: Zeljko Ranogajec, the man acknowledged by sources close to the TAB to be, by some margin, its most prolific gambler.
The size of Mr Ranogajec's betting is extraordinary. It is believed he accounts for 6-8 per cent of Tabcorp's $10 billion Australian betting turnover – or $600-800 million – and bets tens of millions more with local bookmakers.
Once the overseas betting turnover of his 24-hour, seven-day operation is taken into account, his total annual betting spend globally is believed to be well over $1 billion.
Crown Casino Gets Tough On Trouble Makers: Security Beefed Up
Crown casino staff are being trained to use plastic handcuffs under a new push to control violent patrons. The move - which has angered civil libertarians - is aimed at allowing staff to more safely eject patrons who are a threat to themselves, staff and others. The lightweight cuffs would also allow chosen security officers to more easily hold troublemakers while they wait for police to arrive with their force-issued handcuffs. Senior managers have been instructed by former Victoria Police officers working in private industry in how to use the handcuffs. Crown spokesman Gary O'Neill said any move to introduce the handcuffs was at a preliminary stage and, if adopted, would only be used by the senior security staff and managers in "exceptional circumstances". He said such patrons were a risk to many in a busy environment like Crown. "That is a very dangerous situation," he said. "The thought behind it is to provide a safer regime both for our staff who are engaged in these removals, Crown customers and the people involved themselves." Mr O'Neill said Crown management would work with Victoria Police on how best to develop procedures and policies for use of the handcuffs. He said he expected they would be used rarely, if adopted, and the number of "assisted removals" was declining. Mr O'Neill said they would be in use by the end of the year, if approved. "It's at a very, very preliminary stage at the moment. It's not something we're committed to," he said. "We are very conscious that we need to develop a regime that has the approval of Victoria Police." Handcuffs are used at the Burswood Casino in Perth. Australian Council of Civil Liberties president Terry O'Gorman said such a move would be unacceptable. "The only people using handcuffs should be trained police. You invite misuse. Crown can expect a flood of civil lawsuits," Mr O'Gorman said. "Next, they'll want capsicum spray or Tasers." Victoria Police said it was "not in a position to provide comment on whether the carriage or use of equipment by security staff is appropriate without further information".
Events
Gaming, Racing & Wagering Australia - 22nd - 23rd March, Star City Casino
iGB Down Under in Sydney, Australia - 23rd to 25th March, Star City Casino
Do politics, sports and gambling mix? You be the judge! As per usual, punters, bet with your head, not over it, and for Christ's sake, keep it fun. If it stops being fun its likely time to top. Good punting till next time.
*The writer is a special contributor for Gambling911.com
*The writer owns shares in Crown Holdings
*The writer is the director and founder of Media Man, primarily a media, publicity and internet portal development company http://www.mediamanint.com
Friday, February 19, 2010
PartyGaming rise, broker ups to "buy" - 18th February 2010
Websites
PartyCasino.com PartyPoker.com World Poker Tour GetMinted.com PartyBingo.com
Shares in online gambling group PartyGaming add 2.1 percent after Oriel Securities raises its recommendation on the firm to "buy" from "hold", saying it looks undervalued, citing its growth potential.
The broker says based on its forecasts of $158 million of EBITDA in 2010, the shares are trading on an adjusted price earnings ratio of 13.2 times and 8.7 times EBITDA.
"This is an undemanding rating for a growth stock which is active in entering new regions," it says.
"The group is also well positioned to participate in the consolidation of the online gaming sector with clearance from the U.S. Department of Justice and around $120 million of cash resources to pursue M&A opportunities."
Profiles
PartyGaming
PartyCasino.com
PartyPoker.com
Website Network
Media Man
Media Man International
Media Man Australia
Media Man Asia
Global Gaming Directory
Global Gaming Directory.net
Party Casino News
Poker News Media
Casino News Media
Casino News Media.net
Websites
PartyCasino.com PartyPoker.com World Poker Tour GetMinted.com PartyBingo.com
Shares in online gambling group PartyGaming add 2.1 percent after Oriel Securities raises its recommendation on the firm to "buy" from "hold", saying it looks undervalued, citing its growth potential.
The broker says based on its forecasts of $158 million of EBITDA in 2010, the shares are trading on an adjusted price earnings ratio of 13.2 times and 8.7 times EBITDA.
"This is an undemanding rating for a growth stock which is active in entering new regions," it says.
"The group is also well positioned to participate in the consolidation of the online gaming sector with clearance from the U.S. Department of Justice and around $120 million of cash resources to pursue M&A opportunities."
Profiles
PartyGaming
PartyCasino.com
PartyPoker.com
Website Network
Media Man
Media Man International
Media Man Australia
Media Man Asia
Global Gaming Directory
Global Gaming Directory.net
Party Casino News
Poker News Media
Casino News Media
Casino News Media.net
Thursday, February 18, 2010
World Poker Tour® Returns to France for the WPT Grand Prix de Paris
Aviation Club de France Will Host Annual Televised and Non-Televised WPT Events, Kicking off May 8 – 13, 2010
LOS ANGELES - World Poker Tour® (WPT) is returning to France for one of its premier annual European tour stops, WPT Grand Prix de Paris at Aviation Club de France. Scheduled for May 8 – 13, 2010*, the €10,000 main event will be filmed for worldwide television broadcast.
"The Aviation Club de France is delighted to welcome back a WPT event in Paris,” said Bruno Fitoussi, poker consultant for Aviation Club de France. “The WPT Grand Prix de Paris is guaranteed to be a high-class tournament in the highlights of the international poker scene and will, for sure, attract players from all around the world."
Home of the best cash games in Europe, Aviation Club de France is located in the heart of Paris on the Champs-Elysées, known as “the Most Beautiful Avenue in the World.” The Aviation Club de France was created in 1907 by a group of aviators whose achievements conjure the most remarkable moments in aviation history. In addition to elegance and sophistication, the Club offers a variety of table games including Baccarta, poker Black Jack (Parisian Style), Punto Banco, Caribean Stud Poker and more.
Land-based satellites for the WPT Grand Prix de Paris main event will begin at Aviation Club de France on May 1. Schedules and additional details will be available soon at www.aviationclubdefrance.com.
Aviation Club de France will also host a non-televised WPT event in early 2011. For more information and the complete WPT tour schedule, visit World Poker Tour.
*Dates are subject to change.
ABOUT WORLD POKER TOUR
World Poker Tour (WPT) is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high stakes poker tournaments. WPT is now broadcast globally in 150 countries and is currently filming its all-new eighth season for broadcast on Fox Sports Net’s national sports network in the United States. WPT also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the U.S. WPT also participates in strategic brand license, partnership and sponsorship opportunities. WPT is a subsidiary of PartyGaming Plc. For more information, see World Poker Tour.
Website Network
Poker News Media
Media Man
Media Man International
Casino News Media
Casino News Media.net
Global Gaming Directory
Global Gaming Directory.net
Aviation Club de France Will Host Annual Televised and Non-Televised WPT Events, Kicking off May 8 – 13, 2010
LOS ANGELES - World Poker Tour® (WPT) is returning to France for one of its premier annual European tour stops, WPT Grand Prix de Paris at Aviation Club de France. Scheduled for May 8 – 13, 2010*, the €10,000 main event will be filmed for worldwide television broadcast.
"The Aviation Club de France is delighted to welcome back a WPT event in Paris,” said Bruno Fitoussi, poker consultant for Aviation Club de France. “The WPT Grand Prix de Paris is guaranteed to be a high-class tournament in the highlights of the international poker scene and will, for sure, attract players from all around the world."
Home of the best cash games in Europe, Aviation Club de France is located in the heart of Paris on the Champs-Elysées, known as “the Most Beautiful Avenue in the World.” The Aviation Club de France was created in 1907 by a group of aviators whose achievements conjure the most remarkable moments in aviation history. In addition to elegance and sophistication, the Club offers a variety of table games including Baccarta, poker Black Jack (Parisian Style), Punto Banco, Caribean Stud Poker and more.
Land-based satellites for the WPT Grand Prix de Paris main event will begin at Aviation Club de France on May 1. Schedules and additional details will be available soon at www.aviationclubdefrance.com.
Aviation Club de France will also host a non-televised WPT event in early 2011. For more information and the complete WPT tour schedule, visit World Poker Tour.
*Dates are subject to change.
ABOUT WORLD POKER TOUR
World Poker Tour (WPT) is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high stakes poker tournaments. WPT is now broadcast globally in 150 countries and is currently filming its all-new eighth season for broadcast on Fox Sports Net’s national sports network in the United States. WPT also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the U.S. WPT also participates in strategic brand license, partnership and sponsorship opportunities. WPT is a subsidiary of PartyGaming Plc. For more information, see World Poker Tour.
Website Network
Poker News Media
Media Man
Media Man International
Casino News Media
Casino News Media.net
Global Gaming Directory
Global Gaming Directory.net
Wednesday, February 17, 2010
PARTYPOKER GIVES NOTICE OF THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)
PARTYPOKER.COM INTRODUCES THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)!
Gibraltar – 16th February 2010 – PartyPoker.com is delighted to give notice that in March they will be hosting the inaugural Online Cash Game Championships (OCGC).
A PartyPoker.com spokesman said: “ Anyone can claim the crown: you don’t have to be a regular at the high-stakes tables. It’s a long, hard road to victory with $250,000 waiting to be won, the tables are sure to be packed this March. But, when the dust has settled, only the most skilful cash players will take the plaudits.”
The competition is divided into seven levels. At each level, players will need to play 400 hands in a day with the most profitable players advancing towards the final table which takes place on 2nd April. As the participants progress through the levels, cash prizes will be added and both the stakes and the quality of the opposition will increase. The first stage of this epic challenge runs from 1st to 5th March on PartyPoker.com’s $0.50/$1 no-limit hold’em cash tables.
Please note that customers have to opt in to take part in the Online Cash Game Championships.
See: PartyPoker.com for more information.
** Canadian VIP Hockey event – There are 120 all star NHL packages up for grabs for Palladium Lounge members this month: see: PartyPoker.com for more information.
PartyPoker.com is also offering $1 million in guaranteed WPT packages between February and May. See: PartyPoker.com for the details.
Profiles
PartyPoker.com
PartyCasino.com
World Poker Tour
PartyGaming
PARTYPOKER.COM INTRODUCES THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)!
Gibraltar – 16th February 2010 – PartyPoker.com is delighted to give notice that in March they will be hosting the inaugural Online Cash Game Championships (OCGC).
A PartyPoker.com spokesman said: “ Anyone can claim the crown: you don’t have to be a regular at the high-stakes tables. It’s a long, hard road to victory with $250,000 waiting to be won, the tables are sure to be packed this March. But, when the dust has settled, only the most skilful cash players will take the plaudits.”
The competition is divided into seven levels. At each level, players will need to play 400 hands in a day with the most profitable players advancing towards the final table which takes place on 2nd April. As the participants progress through the levels, cash prizes will be added and both the stakes and the quality of the opposition will increase. The first stage of this epic challenge runs from 1st to 5th March on PartyPoker.com’s $0.50/$1 no-limit hold’em cash tables.
Please note that customers have to opt in to take part in the Online Cash Game Championships.
See: PartyPoker.com for more information.
** Canadian VIP Hockey event – There are 120 all star NHL packages up for grabs for Palladium Lounge members this month: see: PartyPoker.com for more information.
PartyPoker.com is also offering $1 million in guaranteed WPT packages between February and May. See: PartyPoker.com for the details.
Profiles
PartyPoker.com
PartyCasino.com
World Poker Tour
PartyGaming
PartyGaming Casino Bets Boost Fourth Quarter; Satisfied players and management, by Greg Tingle - 17th February 2010
Online gambling group PartyGaming last week reported a 32% rise in fourth quarter sales as the thawing economic climate prompts punters to return to its virtual poker and casino tables to play the group's improved online games.
The company, which is listed on the London stock exchange but based in tax-friendly Gibraltar, said sales rose to $132.2 million in the three months to Dec. 31 from $100.4 million last year, helped by two acquisitions and a particularly strong performance in its casino division which offers online casino games like slots, blackjack and roulette, online poker games, sports betting and spread betting services.
PartyPoker.com remains the companies flagship brand however in the past 12 months PartyCasino.com has experienced considerable growth and brand presence, boosted by both branded slot games like Rambo, Mission: Impossible, Top Gun, Call Of Action 4: Modern Warfare, Resident Evil, The Terminator, Saturday Night Fever, The Godfather, a host of Marvel Entertainment themed games, and the recent news media campaign of which cricket and reality TV figure Phil 'Tuffers' Tufnell is the front man for.
PartyGaming is still on the look out for more igaming and betting sector companies to buy up following it's successful purchases of World Poker Tour and Cashcade. Earlier this month PartyGaming inked a "white label" deal with London Capital Group enhancing its spread betting offerings.
The company is the world's biggest listed online gaming group by market capitalization, derives most of its revenue from online poker and casino games and owns and operates a more modest sized sports book and bingo business, which is currently on the upswing.
Finance director Martin Weigold told reporters on a conference call following the results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.
Weigold advised that the unusually strong sales rise is not sustainable going forward into 2010, however the company still expects to report double digit sales and profit growth in the year.
The bullish outlook for 2010 sits comfortably with the group's 2009 earnings, which it expects to be ahead of its own board forecasts.
Weigold said market consensus is for 'clean' earnings before interest, tax, depreciation and amortization, or Ebitda, of $132 million in 2010, and PartyGaming expects to outperform this.
'Clean' Ebitda is the company's preferred measure of profitability and excludes one-off, non-recurring and non-cash items. It is due to report is full year results March 4.
The good news buoyed PartyGaming shares, up 3.2% or 9 pence to 294p.
Alongside casino improvements, PartyGaming also reversed an 18-month trend of quarter-on-quarter revenue declines for its poker division, posting a 9% rise in sales to $49.1 million.
PartyGaming's poker operations had been under pressure due to competition from rivals, and the company has reacted by increasing the bonuses paid and expanding its loyalty programs (PartyPoints and Palladium Lounge)to encourage customers onto the site and retain them. Certainly Asia Pacific - Australian based players are sticking with it, based on feedback and buzz passed onto Asia Pacific's Media Man and Casino News Media firms.
The online gaming sector was hit by the passing of the Unlawful Internet Gambling Enforcement Act in October 2006 which effectively shut down the ultra lucrative market in the U.S. In Europe though, E.U. competition rules have prompted countries to start to open up their regulatory regimes to new players, and PartyGaming is looking to expand its operations when this happens.
It already has a growing presence in Italy, and with France and Denmark due to formalize regulation this year and next, the company is confident of its future growth prospects. South Africa, South America and India also appear to be countries well suited to grow the business. The Australian market is on fire says industry insiders. Australians remain some of the world's most passionate punters, in the top ten says recent figures quoted in the likes of Forbes, News Limited, Fairfax, WSJ, AP and Google News. The Aussie's are massive fans of the Hollywood blockbuster slot games and Marvel Entertainment titles Thor, The Incredible Hulk, Fantastic Four and The Amazing Spider-Man. Insiders advise Aussies are punting big in search of the Marvel Hero Jackpot, almost as popular as Party's 'The Big One' and 'Gold Mega Jackpot', currently sitting on approximately 3 million dollars.
PartyGaming is well aware that it's in the entertainment business and is pro active in putting the Business in Show, while maintaining happy punters, clients, partners and investors.
In addition the company is in discussions with other operators about potential deals and takeovers, although Chief Executive Jim Ryan wouldn't be drawn on whether a transformational deal would be forthcoming this year. Bwin's name keeps coming up, but its one of dozens who are keen to ink high end deals with PartyGaming.
Numis analyst Andrew Wade said he believes PartyGaming's fourth quarter performance should position it well for any merger and acquisition discussions, "as well as confirming it as an attractive partner for State and Private companies wanting to enter new markets."
The company is currently experiencing considerable growth in the Asia Pacific - Australian region, and is poised to return to the United States market, which compliments its strategic purchase of World Poker Tour, not to forget masses of U.S residents keen to play PartyGaming's Hollywood blockbuster slot games.
PartyGaming is expected to have presence at the upcoming iGaming Business event in Sydney, Australia this coming March.
*The writer has a b2b relationship with PartyGaming, as they do with dozens of brands in the igaming, gaming, media and entertainment industry.
Websites
PartyCasino.com
PartyPoker.com
PartyBingo.com
PartyBets.com
World Poker Tour
Profiles
PartyCasino.com
PartyPoker.com
PartyBingo.com
PartyBets.com
World Poker Tour
Website Network
Media Man
Global Gaming Directory
Global Gaming Directory.net
Party Casino News
Casino News Media
Online gambling group PartyGaming last week reported a 32% rise in fourth quarter sales as the thawing economic climate prompts punters to return to its virtual poker and casino tables to play the group's improved online games.
The company, which is listed on the London stock exchange but based in tax-friendly Gibraltar, said sales rose to $132.2 million in the three months to Dec. 31 from $100.4 million last year, helped by two acquisitions and a particularly strong performance in its casino division which offers online casino games like slots, blackjack and roulette, online poker games, sports betting and spread betting services.
PartyPoker.com remains the companies flagship brand however in the past 12 months PartyCasino.com has experienced considerable growth and brand presence, boosted by both branded slot games like Rambo, Mission: Impossible, Top Gun, Call Of Action 4: Modern Warfare, Resident Evil, The Terminator, Saturday Night Fever, The Godfather, a host of Marvel Entertainment themed games, and the recent news media campaign of which cricket and reality TV figure Phil 'Tuffers' Tufnell is the front man for.
PartyGaming is still on the look out for more igaming and betting sector companies to buy up following it's successful purchases of World Poker Tour and Cashcade. Earlier this month PartyGaming inked a "white label" deal with London Capital Group enhancing its spread betting offerings.
The company is the world's biggest listed online gaming group by market capitalization, derives most of its revenue from online poker and casino games and owns and operates a more modest sized sports book and bingo business, which is currently on the upswing.
Finance director Martin Weigold told reporters on a conference call following the results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.
Weigold advised that the unusually strong sales rise is not sustainable going forward into 2010, however the company still expects to report double digit sales and profit growth in the year.
The bullish outlook for 2010 sits comfortably with the group's 2009 earnings, which it expects to be ahead of its own board forecasts.
Weigold said market consensus is for 'clean' earnings before interest, tax, depreciation and amortization, or Ebitda, of $132 million in 2010, and PartyGaming expects to outperform this.
'Clean' Ebitda is the company's preferred measure of profitability and excludes one-off, non-recurring and non-cash items. It is due to report is full year results March 4.
The good news buoyed PartyGaming shares, up 3.2% or 9 pence to 294p.
Alongside casino improvements, PartyGaming also reversed an 18-month trend of quarter-on-quarter revenue declines for its poker division, posting a 9% rise in sales to $49.1 million.
PartyGaming's poker operations had been under pressure due to competition from rivals, and the company has reacted by increasing the bonuses paid and expanding its loyalty programs (PartyPoints and Palladium Lounge)to encourage customers onto the site and retain them. Certainly Asia Pacific - Australian based players are sticking with it, based on feedback and buzz passed onto Asia Pacific's Media Man and Casino News Media firms.
The online gaming sector was hit by the passing of the Unlawful Internet Gambling Enforcement Act in October 2006 which effectively shut down the ultra lucrative market in the U.S. In Europe though, E.U. competition rules have prompted countries to start to open up their regulatory regimes to new players, and PartyGaming is looking to expand its operations when this happens.
It already has a growing presence in Italy, and with France and Denmark due to formalize regulation this year and next, the company is confident of its future growth prospects. South Africa, South America and India also appear to be countries well suited to grow the business. The Australian market is on fire says industry insiders. Australians remain some of the world's most passionate punters, in the top ten says recent figures quoted in the likes of Forbes, News Limited, Fairfax, WSJ, AP and Google News. The Aussie's are massive fans of the Hollywood blockbuster slot games and Marvel Entertainment titles Thor, The Incredible Hulk, Fantastic Four and The Amazing Spider-Man. Insiders advise Aussies are punting big in search of the Marvel Hero Jackpot, almost as popular as Party's 'The Big One' and 'Gold Mega Jackpot', currently sitting on approximately 3 million dollars.
PartyGaming is well aware that it's in the entertainment business and is pro active in putting the Business in Show, while maintaining happy punters, clients, partners and investors.
In addition the company is in discussions with other operators about potential deals and takeovers, although Chief Executive Jim Ryan wouldn't be drawn on whether a transformational deal would be forthcoming this year. Bwin's name keeps coming up, but its one of dozens who are keen to ink high end deals with PartyGaming.
Numis analyst Andrew Wade said he believes PartyGaming's fourth quarter performance should position it well for any merger and acquisition discussions, "as well as confirming it as an attractive partner for State and Private companies wanting to enter new markets."
The company is currently experiencing considerable growth in the Asia Pacific - Australian region, and is poised to return to the United States market, which compliments its strategic purchase of World Poker Tour, not to forget masses of U.S residents keen to play PartyGaming's Hollywood blockbuster slot games.
PartyGaming is expected to have presence at the upcoming iGaming Business event in Sydney, Australia this coming March.
*The writer has a b2b relationship with PartyGaming, as they do with dozens of brands in the igaming, gaming, media and entertainment industry.
Websites
PartyCasino.com
PartyPoker.com
PartyBingo.com
PartyBets.com
World Poker Tour
Profiles
PartyCasino.com
PartyPoker.com
PartyBingo.com
PartyBets.com
World Poker Tour
Website Network
Media Man
Global Gaming Directory
Global Gaming Directory.net
Party Casino News
Casino News Media
Subscribe to:
Posts (Atom)