PartyGaming - PartyCasino, PartyPoker, WPT News - CEO Jim Ryan Interview
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PartyCasino.com PartyPoker.com PartyBingo.com PartyBets.com World Poker Tour WTP Casino Noble Casino
Financial Performance
Total revenue and clean EBITDA are down. So how would you characterise 2009 performance?
Q. 2009 was a challenging year. It was a pretty tough economic backdrop for the sector. In fact, the sector has not worked through, or lived through a recession before that. That being said, I think PartyGaming's performance as well as the sector's was resilient but not immune. In 2009, we focused on operations and improving our operations.
In doing so, we actually returned the business to growth. And if you take a look at our fourth quarter, all four product verticals grew in that quarter, and grew dramatically. It was a 17% quarter-over-quarter growth.
So, if I take a look at the year as a whole, I would say our trading was robust, slightly ahead of analysts' consensus, so we feel good about that, and we're positioned very nicely moving into 2010.
Q. You mentioned Q4. How much of that was down to seasonality? And how much is sustainable growth?
A. Well, it's interesting. Q4, Q1 are typically the two strongest quarters in a year. That being said, focusing on our core operations, focusing on the customer, making a number of product, pricing, promotional-based improvements have actually improved the trading of the company. We saw the growth, as I mentioned, 17% quarter-over-quarter growth in Q4. We've seen that growth continue into the first quarter. So we're moving into the year very optimistic about our prospects.
Q. And what's behind the decline in new player signups in the Americas and in Asia-Pacific?
A. There are two factors. First and foremost, you have operators who have continued to operate in the United States, taking their profits and investing into countries like Canada. So that has made those environments far more competitive. That being said, PartyGaming is principally a European business. That's where our focus is. That's where we see our growth in the ensuing years. New, regulated markets coming - Italy, France, Denmark, hopefully Spain in the not-too-distant future. So that's where we're directing our attention at this point.
Business performance and development
Q. Looking first at Poker, you lost third place last year, but have regained it since. What was behind this, and how will you retain your position?
A. Interestingly enough, it was fairly simple - focusing on core Poker operations. What does that involve? It involved rewriting our products, soup to nuts. We actually re-launched Poker in September of 2008, but on the back of that re-launch, we did some very, very important things. We focused on the consumer. We changed our VIP and loyalty points programme in July of 2009. Since we've done that, we've experienced month-over-month growth in our Poker product.
In addition to that, we modified our pricing. The market has become more competitive and we've changed our pricing policy to ensure that we were as competitively priced as the other leaders in the sector.
In addition to that, promotions. There is always a reason to come and play at Party, 24/7. We have month-long promotions that stimulate VIPs, novices and mid-level players.
And last but not least, increasing the size and the capabilities of our Poker management team. I have been with four online gaming companies now, four different Poker networks, and I've never seen a team who is more passionate about the Poker product, worked as hard to make sure that we are a leader in the sector. And yes, we're number three today, but if you take out the US operators, we're actually number one.
Q. We also saw you buy World Poker Tour Enterprises. What's your strategy for that business? And have there been any regulatory issues with the US?
A. I'm going to answer the question in reverse order. First and foremost, there have been no regulatory issues. The World Poker Tour and its business is legal within the United States, and within the European community. The strategy for the World Poker Tour is fairly simple. If you take a look at the US as a case in point, and take a look at the most popular Poker brands in the United States, certainly Party would be top five. And also, World Poker Tour would be top five.
The World Poker Tour has 12 land-based events in the US. We will continue to operate those land-based events. They'll be standalone, branded World Poker Tour and their sponsors only. You will not see PartyPoker all over them. We're quite proud to have probably the best land-based tour events in the world, and we want to preserve that and grow it. We'll be growing it into Europe, with the addition of 10 land-based events.
Now, some of the European events will be sponsored by PartyPoker, and again, our focus is growing our Poker network throughout Europe. But we will also have third parties, online operators sponsor some of those events. So we are embracing our competition. We want them to participate in the land-based sponsorship, the TV sponsorship of the World Poker Tour events. So it is going to be, in one respect, business as usual for the World Poker Tour.
There is an online element that we're quite keen about in the United States, and that is the second aspect of the strategy. Subscription Poker is legal in 37 states in the US. The World Poker Tour operates in those states under the Club WPT brand. PartyPoker has a database of 12 million registered users. Our desire is to cross-pollinate the World Poker Tour subscription product into our 12 million person database. And remind those 12 million consumers that PartyPoker still exists, hopefully get them educated and interested in Poker again by getting them playing a legal subscription model, and positioning the brand for the long term - hopefully the short term, when the US market reopens.
Q. And you launched 80 games in Casino last year, which have shown strong growth. But what's your strategy there to ensure that level of growth?
A. We're excited about our Casino business. What did we have? 12% year-over-year growth and we had quarter-over-quarter growth all the way through the year. The strategy is threefold.
New content. 80 new games last year. We'll have 50 new games this year. The content will be exciting. It will be branded content. Some of the branded content will be those trusted Hollywood brands that you saw come from us last year - Terminator, Sinatra, Rambo to name a few. There will also be some internally developed brands from the PartyGaming game studio.
The second aspect of the strategy is focused on having life-changing events. It's a jackpot-based strategy. Last year, we had one of the largest jackpot wins in online gaming history. The jackpot was just shy of US$5 million. Today we have the largest reset value in our Melon Madness Jackpot. It resets or starts at US$1.5 million. Nobody else can match that in the sector. So we will continue to bring those life-changing events to the consumer.
And the last aspect of the strategy - and this is what excites me most - is dedicated Casino marketing. Now, here is why this is important. Historically, we've acquired all of our Casino players from our Poker database. That's been great, because our cost of acquisitions hasn't been particularly high, but it hasn't been particularly good for our Poker liquidity in a challenged competitive environment where we need to grow that liquidity. What we've now started to do is go and acquire pure-play Casino players. The magic of a pure-play Casino player? Their lifetime value is twice that of a Poker consumer who moves over to Casino.
So our Casino offering will grow in 2010 and beyond.
Q. Bingo performance has been transformed by the acquisition of Cashcade, but how international is Bingo? And what's the growth opportunity there?
A. Very exciting acquisition for us. We're now a market leader in the online Bingo space. We're arguably the largest network in the United Kingdom. The UK market is probably about US$400m in 2009. Now, what's fascinating about this: the worldwide online Bingo market is US$1.7bn.
So strategically, where are we going with this business? Well, we definitely want to capture more share in the United Kingdom, and we will this year. But we're going to take that business into other European markets, so you'll likely see us go into the Nordic territories and perhaps Spain in 2010.
Q. You've talked a lot about expanding your position in Sports Betting, and last year speculation was rife about a possible merger with bwin. What happened on that?
A. In fact, we've talked to a number of participants in the marketplace and continue to do so. There have been rumours about bwin and many others. The reality of it is where we stand today we have a number of discussions that are ongoing. Everything is at a preliminary stage. So, M&A continues to be a material part of our strategy moving forward, but we need the right set of circumstances for a deal to happen. So stay tuned.
B2B and B2G
Q. You say you’ve done five B2B deals in 2009, excluding those that came with the acquisition of Cashcade. How significant are they?
A. If I may, just for a moment, just state that we’re particularly proud of our B2B business vertical. Why? Because it was part of our new strategy that we announced in August of 2008. And here we are, a year and a half later, and we set that strategy up by saying we wanted to do five meaningful deals in the first year. And we did them.
You’ll never see us do double digits in terms of the number of new partners we’re bringing into our B2B business. The objective in 2009 was five deals, and that’s exactly what we did. The objective in 2010 is five deals. Our mission is to find five B2B partners who are ready and willing to invest in their online brand and drive a successful business. It is a situation where, in fact, less is more.
All of this, the five that we have, the five that we’ll do in 2010, will contribute as a foundation to our plan to achieve in excess of US$30m revenue from our B2B business in 2012.
Q. Turning to your B2G vertical, some commentators believe signing agreements with governments is restricting your potential earnings in a free market, and restricting your liquidity pool. What’s your view on this? And do you intend to continue a strategy of B2G as your preferred entry into a market?
A. I’m going to take you back to our strategy session in 2008. The executive team sat down and we took at look at the competitive environment and we said, “Let’s move five years out in trying to understand what this marketplace looks like.” The first thing we agreed on was the marketplace within Europe would regulate, and potentially within the United States and the rest of the world. In a regulated market, who are we going to have to compete against? We’re going to have to compete against media organisations, trusted brands like Google, Microsoft, Yahoo - and governments - including state lottery operators and government operators for online gaming services.
So we won’t get to dictate what is the best way to enter into these markets. They’re going to regulate. And the regulations, as they are in Europe today, vary from country to country. Is it a preferred approach? Our preferred approach is in fact to operate in regulated marketplaces because there is certainty. But there’s something also more valuable in a regulated market – the ability to freely advertise.
So our strategy right now is without question to focus on our B2B offering. So we’ll tackle those trusted brands and those media channels that want to get into the online sector. But also our B2G. It’s a natural. We’ve positioned our business beautifully for it for 2010. And what we will do, with both the B2B and the B2G, is marry them up with our liquidity pool that we generate from B2C. And hence, as we’re doing in Italy today, provide the consumer with the best possible experience.
Regulation and industry consolidation
Q. How much time are you devoting to the US at the moment? You’ve got your non-prosecution deal now agreed. You’ve got the World Poker Tour deal under your belt. The Barney Frank bill is in motion, for instance. You’re well-placed for a comeback, aren’t you?
A. We are still very much a European-focused business. That is how we’ll pay the bills throughout 2010 and beyond. That being said, we can’t ignore the opportunity in the United States. Truth be told, if I take you back to 2006, on a run rate basis, our business would have done US$1.2b worth of revenue and generated three-quarters of a billion dollars (US$750m) of EBITDA. The PartyPoker brand is still one of the most popular – if not the most popular – Poker brand in that marketplace.
So what have we done? We now have an office in Los Angeles. We have 38 employees. We’ve moved one of our executives, in fact an individual who used to run PartyPoker when we were in the US, over to our LA office. We’re propagating Poker through our subscription model right now in the WTP. We’re actively talking to land-based operators and others who are potentially interested in getting into this marketplace when it regulates.
So we’re sowing the seeds, if you will, right now and planting trees, preparing ourselves for re-entry. If and when it regulates, we’ll be there.
Q. And what further opportunities are you seeing in Europe?
A. Europe is an exciting place from a regulatory perspective right now. We have got Italy – and Italy is without question the fastest-growing poker market within the European Union. What you have to realise is, it is a regulated market now only for tournament poker. Tournament poker is 25 per cent of our core Poker business. Cash game poker makes up the balance. Cash game poker is in the process of being regulated, and hopefully will be so in the first half of 2010. Also with that, Casino games in the first half of 2010. And, hopefully in the second half, Bingo. So the Italian market is very exciting. We should expect to see some very nice growth coming from that country.
France? Hopefully mid-year will regulate online poker and sports betting. And Denmark, beginning of 2011. We also have the Spanish government, at a federal level, considering how best to manage online poker and regulation. So we’re excited about some of the developments that we’re seeing in the European marketplace.
Management focus and outlook
Q. You now have a COO, Per Widerström. So how are you focused to strategically develop the business in 2010?
A. It’s wonderful having Per. I was happy over 2009 to get actively involved in the operations, dig a little deeper and understand the business and perhaps put “Jim Ryan’s” thumbprint on the few areas that I felt I could contribute. Per, an experienced online gaming executive joining the team, taking over the day-to-day operations, will free me up to do a couple of important things. First and foremost, make sure that we monetise the synergies from the deals that we’ve done in 2009. Secondly, focus on new M&A opportunities. And lastly, contribute to the growth of our B2B and B2G efforts, not only in Europe but hopefully in the United States.
Q. Are you happy with the way the year has started? And what’s your outlook for the business in 2010?
A. We have started this year very positively, and we’re quite confident and optimistic about our growth prospects for the balance of the year.
2009 Full Year Results
Martin Weigold, Group Finance Director
Financial Performance
Q. You've reported above consensus for 2009, but isn't it all really down to cost-cutting? Talk me through the financials.
A. We're very pleased with our performance in 2009. Revenues dropped by 6% and clean EBITDA also dropped by 6%. Operating profit was up by 4%. But, given the economic climate, I think that that's a very solid result. Our Casino vertical had another outstanding year, driven by growth in new player sign-ups, the addition of 80 new games, which really saw the performance of that particular vertical take off.
Bingo was obviously transformed by the acquisition of Cashcade. In Sports we made a lot of progress, mainly in the second half. We started to reap some of the benefits of operational changes that we made earlier in the year. Poker was more difficult. We saw player numbers go backwards until we made changes to the loyalty programme around the middle of the year. And since that point, Poker has returned to growth. So, as I say, overall we're very pleased with the result.
Q. You've also reduced administrative expenses. What have you had to cut? And in order to grow, aren't you going to have to add some of that back in?
A. We're always looking to be more efficient on costs wherever we can, but around the middle part of 2008, we undertook a significant cost reduction programme in anticipation of a worsening economic climate. We looked to take out staff costs, overheads, trying not to touch any areas that were associated with revenue generation within the business. Obviously, with the benefit of hindsight, we're very glad that we did that now because we think that it set us up well in terms of the 2009 performance. Foreign exchange was also a factor I should note though. Foreign exchange actually reduced our costs by around US$17m in the period, so that shouldn't be overlooked either.
Q. You mention foreign exchange. Take us through the currency fluctuations and how they affected the numbers that you are reporting today?
A. Well, around the end of 2008 we saw a substantial strengthening in the value of the dollar. It was almost 25% in the space of one quarter. Because we report our results in dollars that basically meant that the reported revenue figure was around US$30m lower than it would otherwise have been but, having said that, that wasn't the impact at the bottom line because, as I just mentioned, we had a corresponding benefit of the cost line which mitigated some of the impact.
Q. Now in Q4 we saw an uplift in Poker revenue and the business also signalled a return to growth in each of its verticals, but isn't this mostly down to seasonality and one punter's big loss?
A. Certainly in the fourth quarter you would expect to see a seasonal pickup, and there's no doubt about that, but the pickup we saw was much stronger than just seasonality. If you look at the performance of each of the verticals in turn - in Poker, revenues were up by 9% which we're very pleased about, given that we had probably six or seven sequential quarters where Poker has actually gone backwards, so we felt that that was a very important turning point.
Casino had a great performance - it was up by 17% on the third quarter. And even if you strip out the exceptional result that you refer to, where we had the mega jackpot win and part of that reinvested in December, Casino still grew by 13% quarter on quarter, which I think, you'll agree, is a reasonable result. Sports we were up by 69% Q4 over Q3, driven by operational improvements, reducing our bonus costs and taking steps to improve the margin, particularly on our live book, in line with what we said that we would do earlier in the year. And then, of course, we had huge growth in Bingo on the back of the Cashcade acquisition in July.
Q. So where do you see margins going from here, given the likelihood of increased marketing support for Casino and the need to improve Poker liquidity?
A. Well, margins in the short term will be impacted by the Cashcade acquisition. At the time of the acquisition I did point out that distribution costs were likely to move from around the 40% level, where they were prior to the acquisition, by around 200 basis points to around 42% in 2009. Going forward into 2010, when you've got a full year of Cashcade on board, we would expect distribution expenses to move to the 43% to 45% mark of revenue with a corresponding impact on clean EBITDA margins. So clean EBITDA margins are likely to be around 28%, I would say, in 2010.
Q. And, do you envisage, in order to compete with US-facing sites, having to offer higher bonuses for some time still?
A. Right now we think that our loyalty programme and our VIP incentives are competitive, even with the US-facing sites. I think that that's one of the reasons why we've seen player numbers and revenues pick up in Poker, not just in Q4, but it's continued into the current trading period in January and February. Are they going to increase from their current level? Right now we don't expect that to be the case, but I think it's we need to watch what the competition do and we need to ensure that we remain competitive.
M&A
Q. You made two major acquisitions in 2009 - Cashcade and World Poker Tour Enterprises. Are you happy with the ROI on these?
A. Yes, we're very happy. The acquisition of Cashcade will work out to be on a multiple of between 5 and 5.9 times EBITDA, which we think is a very good price for a business which is a market leader and is also a high growth business. It's contributed around US$15m to our EBITDA this year and, of course, we bought it part way through the year, in July. So, very, very pleased with that.
World Poker Tour we acquired for strategic reasons. It's not really going to materially contribute to EBITDA, but we're using it to promote the Poker business very successfully at the moment and it's also coming in handy in discussions with US land-based operators. And we expect it to position us very well for a possible re-entry to the US market.
Q. So are you comfortable you have the capacity to fund similar sized, or even larger acquisitions in 2010?
A. Yes, absolutely. The business is very cash generative. This year we generated over US$120m of operating cash flow. In fact, right now we have the capacity to make another acquisition around the size of Cashcade simply from using our existing cash resources. For more sizeable transactions, then we'd also look to use our equity which, of course, is no longer an issue now that we have the DoJ settlement behind us.
Dividend, current trading and outlook
Q. So no dividend again. What circumstances do you think could make you a dividend stock, not simply a growth stock, and when would that be?
A. Well, right now our shareholders are very clear in that they want to see us consolidate the sector. So whilst the opportunities exist to do that and generate higher returns from consolidating competitors, as opposed to other activities -paying it back to our shareholders by way of a dividend or a share buyback - so we're going to continue to do that. But we do anticipate paying a dividend at some point in the future.
Q. And give us a sense of trading in January and February.
A. Current trading, we're very happy with that performance. It's in line with our expectations. At Poker we've seen further growth. Poker revenues are up around 3%. Player numbers are actually up by 9%. Casino is off a little from the fourth quarter, but that's because the fourth quarter last year was exceptionally strong, as we discussed. Bingo has continued to show strong growth - it's up 9% on the fourth quarter. And Sports Betting, even though the fourth quarter was very strong in its own right, has actually continued to grow and grow by further improvements in the margin. So, we're very happy with performance right now.
Q. So what are your expectations for 2010?
A. For 2010 we expect to see growth across all verticals. Obviously Bingo will grow very strongly because of the acquisition of Cashcade part way through the year. Casino we expect to see strong growth. Poker we expect to grow again, but at more modest rates. And further progression in margins on our Sports book.
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Tuesday, March 09, 2010
Boyfriend of Victorian Premier daughter ejected from Australia's Crown Casino, by Greg Tingle - 9th March 2010
We can now confirm that state police have questioned the boyfriend of Elizabeth Brumby, the daughter of Victorian Premier John Brumby, over an incident at Crown Casino in Melbourne.
The 23-year-old man was ejected from a private function on Friday night after security guards accused him of being drunk. The guards had no need to use plastic handcuffs on this occasion, a unique initiative getting mixed reactions from the Australian hotel, club and casino sector.
No charges have been laid at the time of publishing.
In a brief media statement, Mr Brumby said his daughter tried to defuse the situation and described it as a "private matter".
Crown Limited shares remain strong at 8.270 (share price, not blood alcohol reading)
Media Man and Gambling911 will continue to report from the sometimes battlefield that is the Australian land based casino sector. PS: no plastic handcuffs required in online casinos.
*The writer is a special contributor for Gambling911
*The writer is the founder and director of Media Man http://www.mediamanint.com , primarily a media, publicity and internet portal development company
*The writer owns shares in Crown Casino
We can now confirm that state police have questioned the boyfriend of Elizabeth Brumby, the daughter of Victorian Premier John Brumby, over an incident at Crown Casino in Melbourne.
The 23-year-old man was ejected from a private function on Friday night after security guards accused him of being drunk. The guards had no need to use plastic handcuffs on this occasion, a unique initiative getting mixed reactions from the Australian hotel, club and casino sector.
No charges have been laid at the time of publishing.
In a brief media statement, Mr Brumby said his daughter tried to defuse the situation and described it as a "private matter".
Crown Limited shares remain strong at 8.270 (share price, not blood alcohol reading)
Media Man and Gambling911 will continue to report from the sometimes battlefield that is the Australian land based casino sector. PS: no plastic handcuffs required in online casinos.
*The writer is a special contributor for Gambling911
*The writer is the founder and director of Media Man http://www.mediamanint.com , primarily a media, publicity and internet portal development company
*The writer owns shares in Crown Casino
Gambling News and Findings From Australia Get Mixed Reviews, by Greg Tingle - 9th March 2010
It's been a painstaking process, but Gambling911 via the Media Man down under in Aussie Land, has got their hands on some interesting data of substance, released by our "friends" at the New South Wales government no less!
The good news is that a recent survey by the NSW government has demonstrated that rate of problem gambling in the state is declining and that it now has fewer "problem gamblers" per head of population than the southerly friends in Victoria. Yeah, The State Of Origin is on... go The Blues.
Not to any great surprises, the scientific (whaling term ala Japanese whaling) findings have been greeted with furious scepticism by an academic expert and by anti-pokies campaigner Senator Nick Xenophon, who has named the survey a ''snow job'' from a government dependent on gambling revenue. If there was one man in Australia that possibly hated the pokes more than Kevin "Bloody" Rudd, that would be Nicky X, coming out of the blue corner.
The gambling and gaming survey, which was included in the New South Wales Population Health Survey at the request of Gaming and Racing Minister Kevin Greene, found that only 0.4 per cent of the state's adult population are "problem gamblers", down from the last survey in 2006 that found the rate to be 0.8 per cent. It concluded 2.5 per cent were low-risk gamblers and 1.2 per cent were moderate-risk gamblers.
The results of the telephone based survey also found that Victoria had a "problem gambling" rate of 0.7 per cent, while South Australia and the "banana benders" in Queensland were on a par with NSW.
Minister Greene advised that the findings showed measures introduced by the NSW government to help problem gamblers were making a positive impact. Its Responsible Gambling Fund, taken from a levy on casino profits, has poured money into front-line and telephone counselling services. Measures introduced last year included further capping machine numbers and banning credit card cash withdrawals from ATMs in gaming venues.
''These findings are very encouraging and we hope it's a sign that our high-quality counselling service and strict harm minimisation laws are making a real difference,'' Mr Greene said.
However Senator Xenophon as can be expected queried how a telephone survey could accurately gauge the level of problem gambling in the community, arguing many "problem gamblers" were either in denial or already had had their landlines disconnected!
''This survey shows just how desperate the NSW Government is to cover up the extent of problem gambling, he said.
''The NSW government is hopelessly compromised when it rakes in well over $1 billion in poker machine taxes a year.''
Monash University senior lecturer in Health Social Sciences Dr Charles Livingstone, a board member of the journal International Gambling Studies, agreed that telephone surveys of problem gambling tended to contain a "selection bias". His interpretation of gambling data collected in NSW in the past decade showed a problem gambling rate about 2.5 per cent in the adult population, which had remained largely unchanged. ''Gambling continues to be very much out of control in New South Wales'' Dr Livingstone said.
The survey also interestingly contradicts the findings of a draft Productivity Commission report released last October, which found that measures introduced by state governments to limit problem gambling in the past decade had been largely ineffective.
Media Man can advise from from first hand accounts that its basically impossible to enter a venue such as a pub, hotel or casino in Australia without seeing a number of extremely visible warnings and alerts as to the potential dangers of problem gambling. Be it Bondi Icebergs Bergs Gaming, Bondi Hotel's Stardust Rooms, or the good ol Crown Casino, they all carry substantial signage. One of the signs even read something to the effect of "Generally your chances of winning a substantial prize are less than one in a million".
Trusted and highly ethical casinos such as PartyGaming's PartyCasino and Virgin Games Virgin Casino also carry quality information about harm prevention and minimization, the odds of winning, and who to contact if you think you may have a gambling problem. One in million hey...Aw well, you got to be in it to win it.
The Productivity Commission has just handed its final report on gambling to the federal government and is receiving mixed reports.
Gambling policy, health and internet censorship remain of great interest to voters for state and federal elections, and yes, you can bet on election outcomes at agencies such as Centrebet International, who are now also taking bets on the financial markets, following the lead from PartyGaming with their InterTrader deal with London Capital Group last January.
Media Man and Gambling911 remind the readership and punters to know your limits and keep it fun, be it at a land based gambling den or at any number of online casinos.
*The writer is a special contributor for Gambling911
*Media Man is primarily a media, publicity and internet portal development company http://www.mediamanint.com
*The writer owns shares in Crown Casino and is a pro active member of Richard Branson's Virgin Unite
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It's been a painstaking process, but Gambling911 via the Media Man down under in Aussie Land, has got their hands on some interesting data of substance, released by our "friends" at the New South Wales government no less!
The good news is that a recent survey by the NSW government has demonstrated that rate of problem gambling in the state is declining and that it now has fewer "problem gamblers" per head of population than the southerly friends in Victoria. Yeah, The State Of Origin is on... go The Blues.
Not to any great surprises, the scientific (whaling term ala Japanese whaling) findings have been greeted with furious scepticism by an academic expert and by anti-pokies campaigner Senator Nick Xenophon, who has named the survey a ''snow job'' from a government dependent on gambling revenue. If there was one man in Australia that possibly hated the pokes more than Kevin "Bloody" Rudd, that would be Nicky X, coming out of the blue corner.
The gambling and gaming survey, which was included in the New South Wales Population Health Survey at the request of Gaming and Racing Minister Kevin Greene, found that only 0.4 per cent of the state's adult population are "problem gamblers", down from the last survey in 2006 that found the rate to be 0.8 per cent. It concluded 2.5 per cent were low-risk gamblers and 1.2 per cent were moderate-risk gamblers.
The results of the telephone based survey also found that Victoria had a "problem gambling" rate of 0.7 per cent, while South Australia and the "banana benders" in Queensland were on a par with NSW.
Minister Greene advised that the findings showed measures introduced by the NSW government to help problem gamblers were making a positive impact. Its Responsible Gambling Fund, taken from a levy on casino profits, has poured money into front-line and telephone counselling services. Measures introduced last year included further capping machine numbers and banning credit card cash withdrawals from ATMs in gaming venues.
''These findings are very encouraging and we hope it's a sign that our high-quality counselling service and strict harm minimisation laws are making a real difference,'' Mr Greene said.
However Senator Xenophon as can be expected queried how a telephone survey could accurately gauge the level of problem gambling in the community, arguing many "problem gamblers" were either in denial or already had had their landlines disconnected!
''This survey shows just how desperate the NSW Government is to cover up the extent of problem gambling, he said.
''The NSW government is hopelessly compromised when it rakes in well over $1 billion in poker machine taxes a year.''
Monash University senior lecturer in Health Social Sciences Dr Charles Livingstone, a board member of the journal International Gambling Studies, agreed that telephone surveys of problem gambling tended to contain a "selection bias". His interpretation of gambling data collected in NSW in the past decade showed a problem gambling rate about 2.5 per cent in the adult population, which had remained largely unchanged. ''Gambling continues to be very much out of control in New South Wales'' Dr Livingstone said.
The survey also interestingly contradicts the findings of a draft Productivity Commission report released last October, which found that measures introduced by state governments to limit problem gambling in the past decade had been largely ineffective.
Media Man can advise from from first hand accounts that its basically impossible to enter a venue such as a pub, hotel or casino in Australia without seeing a number of extremely visible warnings and alerts as to the potential dangers of problem gambling. Be it Bondi Icebergs Bergs Gaming, Bondi Hotel's Stardust Rooms, or the good ol Crown Casino, they all carry substantial signage. One of the signs even read something to the effect of "Generally your chances of winning a substantial prize are less than one in a million".
Trusted and highly ethical casinos such as PartyGaming's PartyCasino and Virgin Games Virgin Casino also carry quality information about harm prevention and minimization, the odds of winning, and who to contact if you think you may have a gambling problem. One in million hey...Aw well, you got to be in it to win it.
The Productivity Commission has just handed its final report on gambling to the federal government and is receiving mixed reports.
Gambling policy, health and internet censorship remain of great interest to voters for state and federal elections, and yes, you can bet on election outcomes at agencies such as Centrebet International, who are now also taking bets on the financial markets, following the lead from PartyGaming with their InterTrader deal with London Capital Group last January.
Media Man and Gambling911 remind the readership and punters to know your limits and keep it fun, be it at a land based gambling den or at any number of online casinos.
*The writer is a special contributor for Gambling911
*Media Man is primarily a media, publicity and internet portal development company http://www.mediamanint.com
*The writer owns shares in Crown Casino and is a pro active member of Richard Branson's Virgin Unite
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PartyGaming News: PDMR Shareholding
PDMR Shareholding - 5th March 2010
Websites
PartyCasino.com PartyPoker.com PartyBingo.com PartyBets.com PartyGammon.com
World Poker Tour WTP Casino Gamebookers.com
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
In accordance with PartyGaming’s long-term incentive plans for Executive Directors, the following awards over the Company’s ordinary shares of 0.015 pence each (“Shares”) have today been granted under the PartyGaming Plc Executive Share Option Plan (“ESOP”) to the Company’s Chief Executive Officer and Group Finance Director.
Jim Ryan, Chief Executive Officer, has been awarded an option over 250,000 Shares and Martin Weigold, Group Finance Director, has been awarded an option over 200,000 Shares. These options vest subject to the growth in the Company’s Clean Earnings per Share over the three-year period 1 January 2010 to 31 December 2012. The threshold for vesting, at which 25% will vest, will be 5% Clean EPS annual growth over the three-year period, rising on a straight-line basis to 100% vesting if annual Clean EPS growth equals or exceeds 15% over the period.
Each option is exercisable at 310.10 pence per Share and has been awarded at nil-cost. Unless exercised following the satisfaction of the aforementioned performance condition, these options will lapse on 5 March 2020.
This is the third award to be granted under the ESOP to Mr Ryan. The first grant was made in October 2008 over 645,100 Shares and the second award was made in April 2009 over 125,000 Shares. This is the fourth award granted under the ESOP to Mr Weigold. The first award was made in May 2007 over 88,360 Shares, the second award was made in March 2008 over 171,402 Shares and the third award was made in April 2009 over 337,500 Shares.
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PDMR Shareholding - 5th March 2010
Websites
PartyCasino.com PartyPoker.com PartyBingo.com PartyBets.com PartyGammon.com
World Poker Tour WTP Casino Gamebookers.com
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
In accordance with PartyGaming’s long-term incentive plans for Executive Directors, the following awards over the Company’s ordinary shares of 0.015 pence each (“Shares”) have today been granted under the PartyGaming Plc Executive Share Option Plan (“ESOP”) to the Company’s Chief Executive Officer and Group Finance Director.
Jim Ryan, Chief Executive Officer, has been awarded an option over 250,000 Shares and Martin Weigold, Group Finance Director, has been awarded an option over 200,000 Shares. These options vest subject to the growth in the Company’s Clean Earnings per Share over the three-year period 1 January 2010 to 31 December 2012. The threshold for vesting, at which 25% will vest, will be 5% Clean EPS annual growth over the three-year period, rising on a straight-line basis to 100% vesting if annual Clean EPS growth equals or exceeds 15% over the period.
Each option is exercisable at 310.10 pence per Share and has been awarded at nil-cost. Unless exercised following the satisfaction of the aforementioned performance condition, these options will lapse on 5 March 2020.
This is the third award to be granted under the ESOP to Mr Ryan. The first grant was made in October 2008 over 645,100 Shares and the second award was made in April 2009 over 125,000 Shares. This is the fourth award granted under the ESOP to Mr Weigold. The first award was made in May 2007 over 88,360 Shares, the second award was made in March 2008 over 171,402 Shares and the third award was made in April 2009 over 337,500 Shares.
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Monday, March 08, 2010
World Poker Tour New Websites By PartyGaming
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World Poker Tour
Crown returns to profit in first half - 26th February 2010
Casinos operator Crown Ltd is cautiously optimistic about the second half of the financial year, after moving back into first half profit with "satisfactory" growth at Australian casinos.
Crown on Friday reported a net profit from continuing operations of $115.3 million for the six months to December 31, 2009 compared to a $409.7 million loss in the prior comparable period.
The previous corresponding period's result included a $547.5 million writedown on stakes in casinos in Canada, the United States and the United Kingdom, which were affected by the economic downturn in those countries.
After stripping out the impact of non-recurring items and the variance in the theoretical win rate against high-rolling gamblers, Crown's normalised net profit for first half of 2009/10 was $145.6 million, up three per cent on the normalised figure of $141.4 million in the prior corresponding half.
Crown chief executive Rowen Craigie said the overall results for Crown's casinos in Melbourne and Perth - which have been the focus since last year's writedowns on the overseas assets - were "satisfactory".
The first half had been strong but had tailed away later in the half due to a softening in consumer sentiment and a greater-than-expected impact of refurbishment and expansion programs at the Crown casino in Melbourne and the Burswood casino in Perth.
Mr Craigie declined to provide specific outlook for the second half, but said consumer sentiment had picked up in January and February, the replacement of the raised floor in the main casino at Burswood would be completed by April, and Crown was set to open its third hotel, the Metropol, at the Crown complex in Melbourne in March.
However, disruption due to refurbishment of the Teak Room at Crown casino in Melbourne would continue until August.
"And what the economy is going to look like over the next four months is obviously going to be a factor as well," Mr Craigie said.
"We've started the second half with the main gaming floor growing at close to twice the rate where we finished the first half and non-gaming is up as well.
"There are some things to look forward to, but obviously like others we are cautious about where the economy is going."
Mr Craigie said main-floor gaming revenue at Burswood and Crown grew by about three per cent in January and February 2010 compared to the prior corresponding period, and non-gaming revenue lifted about seven per cent.
Mr Craigie also said Crown was not intending to sell its gaming interests in Macau.
Crown holds a 35 per cent stake in Melco Crown Entertainment (MCE). Crown's share of MCE's result for the first half was a loss of $48.1 million.
Crown saw long-term potential for growth in the Macau market given its exposure to China, and MCE had announced that overall performance in January had been pleasing.
Mr Craigie said the US gaming market was still in difficulty and Crown had not considered any activity there in the last six months.
"The US market is still very depressed, Las Vegas continues to suffer declines in revenue and the other states which have allowed gaming are experiencing similar sorts of difficulty," he said.
Mr Craigie said that in the first half, renovations at Crown Melbourne and Burswood had affected main floor table revenue.
But the casinos achieved record turnover in high-roller gambling, which rose 22.9 per cent to $23.4 billion.
Non-gaming revenue had recovered and grew 4.5 per cent in the half.
In August last year, Crown said its principal efforts in the 12 months following would be to focus on enhancing Crown's Australian operations and to work with its joint-venture partners to optimise the value of our Macau and other overseas investments.
"We have made progress on those fronts during the past six months, and this will continue to be our focus," Mr Craigie said.
Crown declared an interim dividend of 18 cents per share, in line with the prior corresponding period.
Crown shares were 17 cents higher at $8.00 at on Friday.
Casinos operator Crown Ltd is cautiously optimistic about the second half of the financial year, after moving back into first half profit with "satisfactory" growth at Australian casinos.
Crown on Friday reported a net profit from continuing operations of $115.3 million for the six months to December 31, 2009 compared to a $409.7 million loss in the prior comparable period.
The previous corresponding period's result included a $547.5 million writedown on stakes in casinos in Canada, the United States and the United Kingdom, which were affected by the economic downturn in those countries.
After stripping out the impact of non-recurring items and the variance in the theoretical win rate against high-rolling gamblers, Crown's normalised net profit for first half of 2009/10 was $145.6 million, up three per cent on the normalised figure of $141.4 million in the prior corresponding half.
Crown chief executive Rowen Craigie said the overall results for Crown's casinos in Melbourne and Perth - which have been the focus since last year's writedowns on the overseas assets - were "satisfactory".
The first half had been strong but had tailed away later in the half due to a softening in consumer sentiment and a greater-than-expected impact of refurbishment and expansion programs at the Crown casino in Melbourne and the Burswood casino in Perth.
Mr Craigie declined to provide specific outlook for the second half, but said consumer sentiment had picked up in January and February, the replacement of the raised floor in the main casino at Burswood would be completed by April, and Crown was set to open its third hotel, the Metropol, at the Crown complex in Melbourne in March.
However, disruption due to refurbishment of the Teak Room at Crown casino in Melbourne would continue until August.
"And what the economy is going to look like over the next four months is obviously going to be a factor as well," Mr Craigie said.
"We've started the second half with the main gaming floor growing at close to twice the rate where we finished the first half and non-gaming is up as well.
"There are some things to look forward to, but obviously like others we are cautious about where the economy is going."
Mr Craigie said main-floor gaming revenue at Burswood and Crown grew by about three per cent in January and February 2010 compared to the prior corresponding period, and non-gaming revenue lifted about seven per cent.
Mr Craigie also said Crown was not intending to sell its gaming interests in Macau.
Crown holds a 35 per cent stake in Melco Crown Entertainment (MCE). Crown's share of MCE's result for the first half was a loss of $48.1 million.
Crown saw long-term potential for growth in the Macau market given its exposure to China, and MCE had announced that overall performance in January had been pleasing.
Mr Craigie said the US gaming market was still in difficulty and Crown had not considered any activity there in the last six months.
"The US market is still very depressed, Las Vegas continues to suffer declines in revenue and the other states which have allowed gaming are experiencing similar sorts of difficulty," he said.
Mr Craigie said that in the first half, renovations at Crown Melbourne and Burswood had affected main floor table revenue.
But the casinos achieved record turnover in high-roller gambling, which rose 22.9 per cent to $23.4 billion.
Non-gaming revenue had recovered and grew 4.5 per cent in the half.
In August last year, Crown said its principal efforts in the 12 months following would be to focus on enhancing Crown's Australian operations and to work with its joint-venture partners to optimise the value of our Macau and other overseas investments.
"We have made progress on those fronts during the past six months, and this will continue to be our focus," Mr Craigie said.
Crown declared an interim dividend of 18 cents per share, in line with the prior corresponding period.
Crown shares were 17 cents higher at $8.00 at on Friday.
Sunday, March 07, 2010
Tiger Woods Turns Down $75 Million Offer From Paddy Power Poker; Online Poker And Gambling Firms Looking For Celeb Edge, by Greg Tingle - 7th March 2010
Media Man reports it's been a big year for The Tiger, and an equally huge year for the online poker and gambling sector.
Tiger Woods has just turned down a $75 million sponsorship offer from the online firm Paddy Power.
Paddy Power enjoys a strong position in the Irish sector and has aspirations to kick big goals in a number of overseas regions.
Various news sources and wires such as TMZ and Poker News Daily report "Tiger Woods just blew off a $75 million endorsement offer from an Irish gambling company – and that is how you know you’re rich." It was a long term deal, but tiger has recently made it clear what his major priorities are.
In other celeb - poker news, five-time NBA champion Dennis Rodman has signed with Cake Poker Network site Only Poker. Rodman is managed by Prince Marketing Group, as is fellow NBA legend Earvin "Magic" Johnson, wrestling legend Hulk Hogan and boxing legend Smokin' Joe Frazier.
PartyGaming's PartyPoker.com is said to be delighted with their poker celeb and pro signings including Aussie's Stewart Scott and Tony G, Canadian-Brit Kara Scott, German Dragan Galic and Italian football living legend, Francesco Totti.
Mike Sexton, Poker Hall of Famer remains the face of Party's World Poker Tour, which PartyGaming purchased last year.
PartyPoker is not currently accepting American players, but is taking on Aussies. PokerStars continues to accept Americans, Canadians, Aussies, and just about anyone else, as does PKR Poker.
Media Man can report that PartyGaming an a number of other online poker and gaming brands have their eyes and ears open to sign the right celebs and celebrity poker and sports starts as the high stakes business of online poker and casino continues.
These developments come as many governments of the world are considering fully regulating the online poker and casino industry.
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Media Man reports it's been a big year for The Tiger, and an equally huge year for the online poker and gambling sector.
Tiger Woods has just turned down a $75 million sponsorship offer from the online firm Paddy Power.
Paddy Power enjoys a strong position in the Irish sector and has aspirations to kick big goals in a number of overseas regions.
Various news sources and wires such as TMZ and Poker News Daily report "Tiger Woods just blew off a $75 million endorsement offer from an Irish gambling company – and that is how you know you’re rich." It was a long term deal, but tiger has recently made it clear what his major priorities are.
In other celeb - poker news, five-time NBA champion Dennis Rodman has signed with Cake Poker Network site Only Poker. Rodman is managed by Prince Marketing Group, as is fellow NBA legend Earvin "Magic" Johnson, wrestling legend Hulk Hogan and boxing legend Smokin' Joe Frazier.
PartyGaming's PartyPoker.com is said to be delighted with their poker celeb and pro signings including Aussie's Stewart Scott and Tony G, Canadian-Brit Kara Scott, German Dragan Galic and Italian football living legend, Francesco Totti.
Mike Sexton, Poker Hall of Famer remains the face of Party's World Poker Tour, which PartyGaming purchased last year.
PartyPoker is not currently accepting American players, but is taking on Aussies. PokerStars continues to accept Americans, Canadians, Aussies, and just about anyone else, as does PKR Poker.
Media Man can report that PartyGaming an a number of other online poker and gaming brands have their eyes and ears open to sign the right celebs and celebrity poker and sports starts as the high stakes business of online poker and casino continues.
These developments come as many governments of the world are considering fully regulating the online poker and casino industry.
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Saturday, March 06, 2010
Casino, Poker, Bingo, Table Games, Hollywood Slot Games, Casino Classics: PartyGaming Does It All, by Greg Tingle
PartyCasino, PartyPoker, World Poker Tour - London Stock Exchange powerhouse - meet the Ace of the igaming world
The world's leading igaming company, PartyGaming is on a roll.
Having come to terms with the United States Department of Justice earlier this year, PartyGaming have become quite the darling of the igaming, gaming and news media world.
PartyGaming has been on a purchasing and acquisitions mission recently picking up Cashcade and World Poker Tour, and is poised to come to more major business deals in the European, Asia Pacific and South American regions. It's global strategy also sees Party eyeing off India and France, whose government's appear open, even positive, to see a deal inked. PartyGaming has also been able to talk shop with Australia's Crown Casino resulting in sending online poker players in the direction of Crown's Aussie Millions Poker Tournament via its celebrated PartyPoker.com brand.
As PartyGaming CEO, Jim Ryan, has pointed out a number of times this financial year, PartyCasino is a key driver in the business and the Hollywood themed online slot games have been a huge success, as has their "Live Dealer" product, enabled by Evolution Gaming. While PartyCasino secured the rights to WagerWorks classic titles last year, Cleopatra, Monopoly and Cluedo, Party was able to build the portfolio with its own in-house team know as 'The Games Studio'.
Online poker remains the company's bread and butter, despite PartyPoker.com not currently accepting U.S customers. However, Party's purchase and running of World Poker Tour (including World Poker Tour website, World Poker Tour casino website) and Club WPT) means that United States citizens can now enjoy a PartyGaming product without any question of legals. The World Poker Tour brand will also almost certainly enable PartyGaming to facilitate some major news media and television deals, which will further grow the company's bottom line and brand.
Numerous sports and entertainment celebrities have been lining up to represent the brand including cricket and TV star Phil 'Tuffers' Tufnell, Italian football legend Francesco Totti, Germany poker pro Dragan Galic, Australian poker sensations, Tony G and Stewart Scott, and poker babe and TV presenter, Canadian-Brit Kara Scott.
Casino fans... now the information you've been waiting for... more world class online slot games are on the cards for PartyCasino following the recent releases, Call of Action 4: Modern Warfare, Melon Madness, Tarzan, Sinatra, High Noon, Resident Evil and The Naked Gun. Names being speculated include Andre The Giant, Ric Flair, Hulk Hogan, The Expendables, The Sopranos, Sonic, Underbelly, Hilton, UFC, TNA and Marvel. Again, those brands are speculation, but some of these have made print, and as they say, where there's smoke, there's fire!
PartyGaming already offers four Marvel themed online slot games and the Marvel Hero Jackpot, and modern classic, The Godfather, remains one of the most popular slots networked into the world famous Gold Mega Jackpot, currently exceeding $1 million dollars! If you got excited by Cleo, Rambo and Tarzan, just wait till you see what lurks around the corner. Australia's NextGen Gaming has been teasing some journalists and insiders on some massive brands going live on PartyCasino, and that's no spin. The online casino brand also offers 24/7/365 support and comes in a wide range of multi currency and multi language options. Not convinced yet? Players and potential players can also play for free or play for money, so you know your in safe hands. New casino players can currently get up to $500 bonus for signing up.
PartyGaming is listed on the London Stock Exchange and has been operating for over a decade, which is like a lifetime in the gaming world. PartyGaming has also made last year's eGaming Review shortlist for a number of awards and commendations. In addition, PartyGaming and its PartyCasino, PartyPoker and World Poker Tour brands have made the Media Man and Casino News Media shortlist for monthly and yearly awards.
While some of PartyGaming's competitors are putting out some impressive products from time to time, those in the know state that there is only one PartyGaming and that their track record of stability, service, security, innovation and fun speaks for itself.
*the writer has a b2b agreement in place with a number of PartyGaming brands, as they do with dozens of brands in the gaming, igaming media and entertainment sector, the details of which are commercially sensitive in nature. The writer is the founder and director of Media Man, Media Man International and Global Gaming Directory.
Global Gaming Directory Profiles
PartyGaming
PartyCasino.com
PartyPoker.com
Club WPT
Websites
PartyCasino.com
PartyCasino.com Marvel Slots
PartyCasino.com Sinatra Slot
PartyPoker.com
World Poker Tour casino
World Poker Tour
Club WPT
PartyCasino, PartyPoker, World Poker Tour - London Stock Exchange powerhouse - meet the Ace of the igaming world
The world's leading igaming company, PartyGaming is on a roll.
Having come to terms with the United States Department of Justice earlier this year, PartyGaming have become quite the darling of the igaming, gaming and news media world.
PartyGaming has been on a purchasing and acquisitions mission recently picking up Cashcade and World Poker Tour, and is poised to come to more major business deals in the European, Asia Pacific and South American regions. It's global strategy also sees Party eyeing off India and France, whose government's appear open, even positive, to see a deal inked. PartyGaming has also been able to talk shop with Australia's Crown Casino resulting in sending online poker players in the direction of Crown's Aussie Millions Poker Tournament via its celebrated PartyPoker.com brand.
As PartyGaming CEO, Jim Ryan, has pointed out a number of times this financial year, PartyCasino is a key driver in the business and the Hollywood themed online slot games have been a huge success, as has their "Live Dealer" product, enabled by Evolution Gaming. While PartyCasino secured the rights to WagerWorks classic titles last year, Cleopatra, Monopoly and Cluedo, Party was able to build the portfolio with its own in-house team know as 'The Games Studio'.
Online poker remains the company's bread and butter, despite PartyPoker.com not currently accepting U.S customers. However, Party's purchase and running of World Poker Tour (including World Poker Tour website, World Poker Tour casino website) and Club WPT) means that United States citizens can now enjoy a PartyGaming product without any question of legals. The World Poker Tour brand will also almost certainly enable PartyGaming to facilitate some major news media and television deals, which will further grow the company's bottom line and brand.
Numerous sports and entertainment celebrities have been lining up to represent the brand including cricket and TV star Phil 'Tuffers' Tufnell, Italian football legend Francesco Totti, Germany poker pro Dragan Galic, Australian poker sensations, Tony G and Stewart Scott, and poker babe and TV presenter, Canadian-Brit Kara Scott.
Casino fans... now the information you've been waiting for... more world class online slot games are on the cards for PartyCasino following the recent releases, Call of Action 4: Modern Warfare, Melon Madness, Tarzan, Sinatra, High Noon, Resident Evil and The Naked Gun. Names being speculated include Andre The Giant, Ric Flair, Hulk Hogan, The Expendables, The Sopranos, Sonic, Underbelly, Hilton, UFC, TNA and Marvel. Again, those brands are speculation, but some of these have made print, and as they say, where there's smoke, there's fire!
PartyGaming already offers four Marvel themed online slot games and the Marvel Hero Jackpot, and modern classic, The Godfather, remains one of the most popular slots networked into the world famous Gold Mega Jackpot, currently exceeding $1 million dollars! If you got excited by Cleo, Rambo and Tarzan, just wait till you see what lurks around the corner. Australia's NextGen Gaming has been teasing some journalists and insiders on some massive brands going live on PartyCasino, and that's no spin. The online casino brand also offers 24/7/365 support and comes in a wide range of multi currency and multi language options. Not convinced yet? Players and potential players can also play for free or play for money, so you know your in safe hands. New casino players can currently get up to $500 bonus for signing up.
PartyGaming is listed on the London Stock Exchange and has been operating for over a decade, which is like a lifetime in the gaming world. PartyGaming has also made last year's eGaming Review shortlist for a number of awards and commendations. In addition, PartyGaming and its PartyCasino, PartyPoker and World Poker Tour brands have made the Media Man and Casino News Media shortlist for monthly and yearly awards.
While some of PartyGaming's competitors are putting out some impressive products from time to time, those in the know state that there is only one PartyGaming and that their track record of stability, service, security, innovation and fun speaks for itself.
*the writer has a b2b agreement in place with a number of PartyGaming brands, as they do with dozens of brands in the gaming, igaming media and entertainment sector, the details of which are commercially sensitive in nature. The writer is the founder and director of Media Man, Media Man International and Global Gaming Directory.
Global Gaming Directory Profiles
PartyGaming
PartyCasino.com
PartyPoker.com
Club WPT
Websites
PartyCasino.com
PartyCasino.com Marvel Slots
PartyCasino.com Sinatra Slot
PartyPoker.com
World Poker Tour casino
World Poker Tour
Club WPT
Friday, March 05, 2010
PartyGaming still in M&A talks - 4th March 2010
Online gambling group PartyGaming said it remained in talks over potential deal opportunities and was optimistic about a possible return to the U.S. as its 2009 earnings beat expectations.
"We are certainly in discussions with a few parties on a number of different opportunities," Chief Executive Jim Ryan told reporters on a conference call on Thursday.
However, he stressed that talks remained at a preliminary stage and declined to comment on the size or identity of the companies PartyGaming is talking to.
Analysts say the online gaming industry is fragmented and rife for consolidation and PartyGaming has been linked to a possible merger with Austria's bwin.
"There are a list of suspects who one would expect us to be talking to given that our focus is consolidating the online gaming sector," Ryan said.
PartyGaming said earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations fell to $135 million (90 million pounds) from $144.2 million the year before, reflecting a decline in poker revenues.
That was ahead of the consensus forecast of $133.3 million, according to a poll of analysts supplied by the company.
PartyGaming's poker revenues have been hit by competition from online gaming businesses which continue to offer services to U.S.-based players despite the industry being made illegal in that country in 2006.
Ryan said he was encouraged by recent moves in the U.S. to overturn the legislation. U.S. congressmen Barney Frank and Jim McDermott are attempting to push through a new bill to regulate the industry. They argue that, if it was introduced, it would generate tax revenues of about $42 billion over ten years.
PartyGaming has already reached agreement with U.S. authorities which will protect it from being prosecuted over its past activities there.
Ryan said the settlement will make it easier for PartyGaming to re-enter the U.S. market and also clears the way for it to engage in M&A activity.
"We are talking to a number of U.S. entities about doing business with them when the U.S. market regulates. It's positioned us for growth from an M&A perspective and, from an operational perspective, I think it's our ticket back into the United States."
Other operators such as 888 and Sportingbet have yet to reach a deal with the Department of Justice.
Ryan said he thinks the U.S. is moving closer to re-opening to online gaming companies.
"We're hearing rumours that we're going to get support from the land-based operators for online gaming so it seems like momentum is building," he said, adding it was "not impossible" new legislation could be introduced this year.
Shares in PartyGaming, which have risen by 17 percent in the last 3 months, were up 0.13 percent to 303.4 pence at 1106 GMT.
"PartyGaming is remarkably well prepared for a whole variety of changes. Although there is no new information on a possible game-changing acquisition, we believe it is more likely than not," said Numis analyst Wyn Ellis.
Online gambling group PartyGaming said it remained in talks over potential deal opportunities and was optimistic about a possible return to the U.S. as its 2009 earnings beat expectations.
"We are certainly in discussions with a few parties on a number of different opportunities," Chief Executive Jim Ryan told reporters on a conference call on Thursday.
However, he stressed that talks remained at a preliminary stage and declined to comment on the size or identity of the companies PartyGaming is talking to.
Analysts say the online gaming industry is fragmented and rife for consolidation and PartyGaming has been linked to a possible merger with Austria's bwin.
"There are a list of suspects who one would expect us to be talking to given that our focus is consolidating the online gaming sector," Ryan said.
PartyGaming said earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations fell to $135 million (90 million pounds) from $144.2 million the year before, reflecting a decline in poker revenues.
That was ahead of the consensus forecast of $133.3 million, according to a poll of analysts supplied by the company.
PartyGaming's poker revenues have been hit by competition from online gaming businesses which continue to offer services to U.S.-based players despite the industry being made illegal in that country in 2006.
Ryan said he was encouraged by recent moves in the U.S. to overturn the legislation. U.S. congressmen Barney Frank and Jim McDermott are attempting to push through a new bill to regulate the industry. They argue that, if it was introduced, it would generate tax revenues of about $42 billion over ten years.
PartyGaming has already reached agreement with U.S. authorities which will protect it from being prosecuted over its past activities there.
Ryan said the settlement will make it easier for PartyGaming to re-enter the U.S. market and also clears the way for it to engage in M&A activity.
"We are talking to a number of U.S. entities about doing business with them when the U.S. market regulates. It's positioned us for growth from an M&A perspective and, from an operational perspective, I think it's our ticket back into the United States."
Other operators such as 888 and Sportingbet have yet to reach a deal with the Department of Justice.
Ryan said he thinks the U.S. is moving closer to re-opening to online gaming companies.
"We're hearing rumours that we're going to get support from the land-based operators for online gaming so it seems like momentum is building," he said, adding it was "not impossible" new legislation could be introduced this year.
Shares in PartyGaming, which have risen by 17 percent in the last 3 months, were up 0.13 percent to 303.4 pence at 1106 GMT.
"PartyGaming is remarkably well prepared for a whole variety of changes. Although there is no new information on a possible game-changing acquisition, we believe it is more likely than not," said Numis analyst Wyn Ellis.
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Thursday, March 04, 2010
PartyGaming News: Jim Ryan, CEO - Interview - 4th March 2010
PartyGaming - 2009 full year results
2009 performance
Total revenue and clean EBITDA are down. So how would you characterise 2009 performance?
2009 was a challenging year. It was a pretty tough economic backdrop for the sector. In fact, the sector has not worked through, or lived through a recession before that. That being said, I think PartyGaming's performance as well as the sector's was resilient but not immune. In 2009, we focused on operations and improving our operations.
In doing so, we actually returned the business to growth. And if you take a look at our fourth quarter, all four product verticals grew in that quarter, and grew dramatically. It was a 17% quarter-over-quarter growth. So, if I take a look at the year as a whole, I would say our trading was robust, slightly ahead of analysts' consensus, so we feel good about that, and we're positioned very nicely moving into 2010.
You mentioned Q4. How much of that was down to seasonality? And how much is sustainable growth?
Well, it's interesting. Q4, Q1 are typically the two strongest quarters in a year. That being said, focusing on our core operations, focusing on the customer, making a number of product, pricing, promotional-based improvements have actually improved the trading of the company. We saw the growth, as I mentioned, 17% quarter-over-quarter growth in Q4. We've seen that growth continue into the first quarter. So we're moving into the year very optimistic about our prospects.
And what's behind the decline in new player signups in the Americas and in Asia-Pacific?
There are two factors. First and foremost, you have operators who have continued to operate in the United States, taking their profits and investing into countries like Canada. So that has made those environments far more competitive. That being said, PartyGaming is principally a European business. That's where our focus is. That's where we see our growth in the ensuing years. New, regulated markets coming - Italy, France, Denmark, hopefully Spain in the not-too-distant future. So that's where we're directing our attention at this point.
Business performance and development
Looking first at Poker, you lost third place last year, but have regained it since. What was behind this, and how will you retain your position?
Interestingly enough, it was fairly simple - focusing on core Poker operations. What does that involve? It involved rewriting our products, soup to nuts. We actually re-launched Poker in September of 2008, but on the back of that re-launch, we did some very, very important things. We focused on the consumer. We changed our VIP and loyalty points programme in July of 2009. Since we've done that, we've experienced month-over-month growth in our Poker product.
In addition to that, we modified our pricing. The market has become more competitive and we've changed our pricing policy to ensure that we were as competitively priced as the other leaders in the sector.
In addition to that, promotions. There is always a reason to come and play at Party, 24/7. We have month-long promotions that stimulate VIPs, novices and mid-level players.
And last but not least, increasing the size and the capabilities of our Poker management team. I have been with four online gaming companies now, four different Poker networks, and I've never seen a team who is more passionate about the Poker product, worked as hard to make sure that we are a leader in the sector. And yes, we're number three today, but if you take out the US operators, we're actually number one.
We also saw you buy World Poker Tour Enterprises. What's your strategy for that business? And have there been any regulatory issues with the US?
I'm going to answer the question in reverse order. First and foremost, there have been no regulatory issues. The World Poker Tour and its business is legal within the United States, and within the European community. The strategy for the World Poker Tour is fairly simple. If you take a look at the US as a case in point, and take a look at the most popular Poker brands in the United States, certainly Party would be top five. And also, World Poker Tour would be top five.
The World Poker Tour has 12 land-based events in the US. We will continue to operate those land-based events. They'll be standalone, branded World Poker Tour and their sponsors only. You will not see PartyPoker all over them. We're quite proud to have probably the best land-based tour events in the world, and we want to preserve that and grow it. We'll be growing it into Europe, with the addition of 10 land-based events.
Now, some of the European events will be sponsored by PartyPoker, and again, our focus is growing our Poker network throughout Europe. But we will also have third parties, online operators sponsor some of those events. So we are embracing our competition. We want them to participate in the land-based sponsorship, the TV sponsorship of the World Poker Tour events. So it is going to be, in one respect, business as usual for the World Poker Tour.
There is an online element that we're quite keen about in the United States, and that is the second aspect of the strategy. Subscription Poker is legal in 37 states in the US. The World Poker Tour operates in those states under the Club WPT brand. PartyPoker has a database of 12 million registered users. Our desire is to cross-pollinate the World Poker Tour subscription product into our 12 million person database. And remind those 12 million consumers that PartyPoker still exists, hopefully get them educated and interested in Poker again by getting them playing a legal subscription model, and positioning the brand for the long term - hopefully the short term, when the US market reopens.
And you launched 80 games in Casino last year, which have shown strong growth. But what's your strategy there to ensure that level of growth?
We're excited about our Casino business. What did we have? 12% year-over-year growth and we had quarter-over-quarter growth all the way through the year. The strategy is threefold.
New content. 80 new games last year. We'll have 50 new games this year. The content will be exciting. It will be branded content. Some of the branded content will be those trusted Hollywood brands that you saw come from us last year - Terminator, Sinatra, Rambo to name a few. There will also be some internally developed brands from the PartyGaming game studio.
The second aspect of the strategy is focused on having life-changing events. It's a jackpot-based strategy. Last year, we had one of the largest jackpot wins in online gaming history. The jackpot was just shy of US$5 million. Today we have the largest reset value in our Melon Madness Jackpot. It resets or starts at US$1.5 million. Nobody else can match that in the sector. So we will continue to bring those life-changing events to the consumer.
And the last aspect of the strategy - and this is what excites me most - is dedicated Casino marketing. Now, here is why this is important. Historically, we've acquired all of our Casino players from our Poker database. That's been great, because our cost of acquisitions hasn't been particularly high, but it hasn't been particularly good for our Poker liquidity in a challenged competitive environment where we need to grow that liquidity. What we've now started to do is go and acquire pure-play Casino players. The magic of a pure-play Casino player? Their lifetime value is twice that of a Poker consumer who moves over to Casino.
So our Casino offering will grow in 2010 and beyond.
Bingo performance has been transformed by the acquisition of Cashcade, but how international is Bingo? And what's the growth opportunity there?
Very exciting acquisition for us. We're now a market leader in the online Bingo space. We're arguably the largest network in the United Kingdom. The UK market is probably about US$400m in 2009. Now, what's fascinating about this: the worldwide online Bingo market is US$1.7bn.
So strategically, where are we going with this business? Well, we definitely want to capture more share in the United Kingdom, and we will this year. But we're going to take that business into other European markets, so you'll likely see us go into the Nordic territories and perhaps Spain in 2010.
You've talked a lot about expanding your position in Sports Betting, and last year speculation was rife about a possible merger with bwin. What happened on that?
In fact, we've talked to a number of participants in the marketplace and continue to do so. There have been rumours about bwin and many others. The reality of it is where we stand today we have a number of discussions that are ongoing. Everything is at a preliminary stage. So, M&A continues to be a material part of our strategy moving forward, but we need the right set of circumstances for a deal to happen. So stay tuned.
B2B and B2G
You say you've done five B2B deals in 2009, excluding those that came with the acquisition of Cashcade. How significant are they?
If I may, just for a moment, just state that we're particularly proud of our B2B business vertical. Why? Because it was part of our new strategy that we announced in August of 2008. And here we are, a year and a half later, and we set that strategy up by saying we wanted to do five meaningful deals in the first year. And we did them.
You'll never see us do double digits in terms of the number of new partners we're bringing into our B2B business. The objective in 2009 was five deals, and that's exactly what we did. The objective in 2010 is five deals. Our mission is to find five B2B partners who are ready and willing to invest in their online brand and drive a successful business. It is a situation where, in fact, less is more.
All of this, the five that we have, the five that we'll do in 2010, will contribute as a foundation to our plan to achieve in excess of US$30m revenue from our B2B business in 2012.
Turning to your B2G vertical, some commentators believe signing agreements with governments is restricting your potential earnings in a free market, and restricting your liquidity pool. What's your view on this? And do you intend to continue a strategy of B2G as your preferred entry into a market?
I'm going to take you back to our strategy session in 2008. The executive team sat down and we took at look at the competitive environment and we said, 'Let's move five years out in trying to understand what this marketplace looks like.' The first thing we agreed on was the marketplace within Europe would regulate, and potentially within the United States and the rest of the world. In a regulated market, who are we going to have to compete against? We're going to have to compete against media organisations, trusted brands like Google, Microsoft, Yahoo - and governments - including state lottery operators and government operators for online gaming services.
So we won't get to dictate what is the best way to enter into these markets. They're going to regulate. And the regulations, as they are in Europe today, vary from country to country. Is it a preferred approach? Our preferred approach is in fact to operate in regulated marketplaces because there is certainty. But there's something also more valuable in a regulated market - the ability to freely advertise.
So our strategy right now is without question to focus on our B2B offering. So we'll tackle those trusted brands and those media channels that want to get into the online sector. But also our B2G. It's a natural. We've positioned our business beautifully for it for 2010. And what we will do, with both the B2B and the B2G, is marry them up with our liquidity pool that we generate from B2C. And hence, as we're doing in Italy today, provide the consumer with the best possible experience.
Regulation and industry consolidation
How much time are you devoting to the US at the moment? You've got your non-prosecution deal now agreed. You've got the World Poker Tour deal under your belt. The Barney Frank bill is in motion, for instance. You're well-placed for a comeback, aren't you?
We are still very much a European-focused business. That is how we'll pay the bills throughout 2010 and beyond. That being said, we can't ignore the opportunity in the United States. Truth be told, if I take you back to 2006, on a run rate basis, our business would have done US$1.2b worth of revenue and generated three-quarters of a billion dollars (US$750m) of EBITDA. The PartyPoker brand is still one of the most popular - if not the most popular - Poker brand in that marketplace.
So what have we done? We now have an office in Los Angeles. We have 38 employees. We've moved one of our executives, in fact an individual who used to run PartyPoker when we were in the US, over to our LA office. We're propagating Poker through our subscription model right now in the WTP. We're actively talking to land-based operators and others who are potentially interested in getting into this marketplace when it regulates.
So we're sowing the seeds, if you will, right now and planting trees, preparing ourselves for re-entry. If and when it regulates, we'll be there.
And what further opportunities are you seeing in Europe?
Europe is an exciting place from a regulatory perspective right now. We have got Italy - and Italy is without question the fastest-growing poker market within the European Union. What you have to realise is, it is a regulated market now only for tournament poker. Tournament poker is 25 per cent of our core Poker business. Cash game poker makes up the balance. Cash game poker is in the process of being regulated, and hopefully will be so in the first half of 2010. Also with that, Casino games in the first half of 2010. And, hopefully in the second half, Bingo. So the Italian market is very exciting. We should expect to see some very nice growth coming from that country.
France? Hopefully mid-year will regulate online poker and sports betting. And Denmark, beginning of 2011. We also have the Spanish government, at a federal level, considering how best to manage online poker and regulation. So we're excited about some of the developments that we're seeing in the European marketplace.
Management focus and outlook
You now have a COO, Per Widerström. So how are you focused to strategically develop the business in 2010?
It's wonderful having Per. I was happy over 2009 to get actively involved in the operations, dig a little deeper and understand the business and perhaps put 'Jim Ryan's' thumbprint on the few areas that I felt I could contribute. Per, an experienced online gaming executive joining the team, taking over the day-to-day operations, will free me up to do a couple of important things. First and foremost, make sure that we monetise the synergies from the deals that we've done in 2009. Secondly, focus on new M&A opportunities. And lastly, contribute to the growth of our B2B and B2G efforts, not only in Europe but hopefully in the United States.
Are you happy with the way the year has started? And what's your outlook for the business in 2010?
We have started this year very positively, and we're quite confident and optimistic about our growth prospects for the balance of the year. (Credit: Cantos)
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Media Man
PartyGaming - 2009 full year results
2009 performance
Total revenue and clean EBITDA are down. So how would you characterise 2009 performance?
2009 was a challenging year. It was a pretty tough economic backdrop for the sector. In fact, the sector has not worked through, or lived through a recession before that. That being said, I think PartyGaming's performance as well as the sector's was resilient but not immune. In 2009, we focused on operations and improving our operations.
In doing so, we actually returned the business to growth. And if you take a look at our fourth quarter, all four product verticals grew in that quarter, and grew dramatically. It was a 17% quarter-over-quarter growth. So, if I take a look at the year as a whole, I would say our trading was robust, slightly ahead of analysts' consensus, so we feel good about that, and we're positioned very nicely moving into 2010.
You mentioned Q4. How much of that was down to seasonality? And how much is sustainable growth?
Well, it's interesting. Q4, Q1 are typically the two strongest quarters in a year. That being said, focusing on our core operations, focusing on the customer, making a number of product, pricing, promotional-based improvements have actually improved the trading of the company. We saw the growth, as I mentioned, 17% quarter-over-quarter growth in Q4. We've seen that growth continue into the first quarter. So we're moving into the year very optimistic about our prospects.
And what's behind the decline in new player signups in the Americas and in Asia-Pacific?
There are two factors. First and foremost, you have operators who have continued to operate in the United States, taking their profits and investing into countries like Canada. So that has made those environments far more competitive. That being said, PartyGaming is principally a European business. That's where our focus is. That's where we see our growth in the ensuing years. New, regulated markets coming - Italy, France, Denmark, hopefully Spain in the not-too-distant future. So that's where we're directing our attention at this point.
Business performance and development
Looking first at Poker, you lost third place last year, but have regained it since. What was behind this, and how will you retain your position?
Interestingly enough, it was fairly simple - focusing on core Poker operations. What does that involve? It involved rewriting our products, soup to nuts. We actually re-launched Poker in September of 2008, but on the back of that re-launch, we did some very, very important things. We focused on the consumer. We changed our VIP and loyalty points programme in July of 2009. Since we've done that, we've experienced month-over-month growth in our Poker product.
In addition to that, we modified our pricing. The market has become more competitive and we've changed our pricing policy to ensure that we were as competitively priced as the other leaders in the sector.
In addition to that, promotions. There is always a reason to come and play at Party, 24/7. We have month-long promotions that stimulate VIPs, novices and mid-level players.
And last but not least, increasing the size and the capabilities of our Poker management team. I have been with four online gaming companies now, four different Poker networks, and I've never seen a team who is more passionate about the Poker product, worked as hard to make sure that we are a leader in the sector. And yes, we're number three today, but if you take out the US operators, we're actually number one.
We also saw you buy World Poker Tour Enterprises. What's your strategy for that business? And have there been any regulatory issues with the US?
I'm going to answer the question in reverse order. First and foremost, there have been no regulatory issues. The World Poker Tour and its business is legal within the United States, and within the European community. The strategy for the World Poker Tour is fairly simple. If you take a look at the US as a case in point, and take a look at the most popular Poker brands in the United States, certainly Party would be top five. And also, World Poker Tour would be top five.
The World Poker Tour has 12 land-based events in the US. We will continue to operate those land-based events. They'll be standalone, branded World Poker Tour and their sponsors only. You will not see PartyPoker all over them. We're quite proud to have probably the best land-based tour events in the world, and we want to preserve that and grow it. We'll be growing it into Europe, with the addition of 10 land-based events.
Now, some of the European events will be sponsored by PartyPoker, and again, our focus is growing our Poker network throughout Europe. But we will also have third parties, online operators sponsor some of those events. So we are embracing our competition. We want them to participate in the land-based sponsorship, the TV sponsorship of the World Poker Tour events. So it is going to be, in one respect, business as usual for the World Poker Tour.
There is an online element that we're quite keen about in the United States, and that is the second aspect of the strategy. Subscription Poker is legal in 37 states in the US. The World Poker Tour operates in those states under the Club WPT brand. PartyPoker has a database of 12 million registered users. Our desire is to cross-pollinate the World Poker Tour subscription product into our 12 million person database. And remind those 12 million consumers that PartyPoker still exists, hopefully get them educated and interested in Poker again by getting them playing a legal subscription model, and positioning the brand for the long term - hopefully the short term, when the US market reopens.
And you launched 80 games in Casino last year, which have shown strong growth. But what's your strategy there to ensure that level of growth?
We're excited about our Casino business. What did we have? 12% year-over-year growth and we had quarter-over-quarter growth all the way through the year. The strategy is threefold.
New content. 80 new games last year. We'll have 50 new games this year. The content will be exciting. It will be branded content. Some of the branded content will be those trusted Hollywood brands that you saw come from us last year - Terminator, Sinatra, Rambo to name a few. There will also be some internally developed brands from the PartyGaming game studio.
The second aspect of the strategy is focused on having life-changing events. It's a jackpot-based strategy. Last year, we had one of the largest jackpot wins in online gaming history. The jackpot was just shy of US$5 million. Today we have the largest reset value in our Melon Madness Jackpot. It resets or starts at US$1.5 million. Nobody else can match that in the sector. So we will continue to bring those life-changing events to the consumer.
And the last aspect of the strategy - and this is what excites me most - is dedicated Casino marketing. Now, here is why this is important. Historically, we've acquired all of our Casino players from our Poker database. That's been great, because our cost of acquisitions hasn't been particularly high, but it hasn't been particularly good for our Poker liquidity in a challenged competitive environment where we need to grow that liquidity. What we've now started to do is go and acquire pure-play Casino players. The magic of a pure-play Casino player? Their lifetime value is twice that of a Poker consumer who moves over to Casino.
So our Casino offering will grow in 2010 and beyond.
Bingo performance has been transformed by the acquisition of Cashcade, but how international is Bingo? And what's the growth opportunity there?
Very exciting acquisition for us. We're now a market leader in the online Bingo space. We're arguably the largest network in the United Kingdom. The UK market is probably about US$400m in 2009. Now, what's fascinating about this: the worldwide online Bingo market is US$1.7bn.
So strategically, where are we going with this business? Well, we definitely want to capture more share in the United Kingdom, and we will this year. But we're going to take that business into other European markets, so you'll likely see us go into the Nordic territories and perhaps Spain in 2010.
You've talked a lot about expanding your position in Sports Betting, and last year speculation was rife about a possible merger with bwin. What happened on that?
In fact, we've talked to a number of participants in the marketplace and continue to do so. There have been rumours about bwin and many others. The reality of it is where we stand today we have a number of discussions that are ongoing. Everything is at a preliminary stage. So, M&A continues to be a material part of our strategy moving forward, but we need the right set of circumstances for a deal to happen. So stay tuned.
B2B and B2G
You say you've done five B2B deals in 2009, excluding those that came with the acquisition of Cashcade. How significant are they?
If I may, just for a moment, just state that we're particularly proud of our B2B business vertical. Why? Because it was part of our new strategy that we announced in August of 2008. And here we are, a year and a half later, and we set that strategy up by saying we wanted to do five meaningful deals in the first year. And we did them.
You'll never see us do double digits in terms of the number of new partners we're bringing into our B2B business. The objective in 2009 was five deals, and that's exactly what we did. The objective in 2010 is five deals. Our mission is to find five B2B partners who are ready and willing to invest in their online brand and drive a successful business. It is a situation where, in fact, less is more.
All of this, the five that we have, the five that we'll do in 2010, will contribute as a foundation to our plan to achieve in excess of US$30m revenue from our B2B business in 2012.
Turning to your B2G vertical, some commentators believe signing agreements with governments is restricting your potential earnings in a free market, and restricting your liquidity pool. What's your view on this? And do you intend to continue a strategy of B2G as your preferred entry into a market?
I'm going to take you back to our strategy session in 2008. The executive team sat down and we took at look at the competitive environment and we said, 'Let's move five years out in trying to understand what this marketplace looks like.' The first thing we agreed on was the marketplace within Europe would regulate, and potentially within the United States and the rest of the world. In a regulated market, who are we going to have to compete against? We're going to have to compete against media organisations, trusted brands like Google, Microsoft, Yahoo - and governments - including state lottery operators and government operators for online gaming services.
So we won't get to dictate what is the best way to enter into these markets. They're going to regulate. And the regulations, as they are in Europe today, vary from country to country. Is it a preferred approach? Our preferred approach is in fact to operate in regulated marketplaces because there is certainty. But there's something also more valuable in a regulated market - the ability to freely advertise.
So our strategy right now is without question to focus on our B2B offering. So we'll tackle those trusted brands and those media channels that want to get into the online sector. But also our B2G. It's a natural. We've positioned our business beautifully for it for 2010. And what we will do, with both the B2B and the B2G, is marry them up with our liquidity pool that we generate from B2C. And hence, as we're doing in Italy today, provide the consumer with the best possible experience.
Regulation and industry consolidation
How much time are you devoting to the US at the moment? You've got your non-prosecution deal now agreed. You've got the World Poker Tour deal under your belt. The Barney Frank bill is in motion, for instance. You're well-placed for a comeback, aren't you?
We are still very much a European-focused business. That is how we'll pay the bills throughout 2010 and beyond. That being said, we can't ignore the opportunity in the United States. Truth be told, if I take you back to 2006, on a run rate basis, our business would have done US$1.2b worth of revenue and generated three-quarters of a billion dollars (US$750m) of EBITDA. The PartyPoker brand is still one of the most popular - if not the most popular - Poker brand in that marketplace.
So what have we done? We now have an office in Los Angeles. We have 38 employees. We've moved one of our executives, in fact an individual who used to run PartyPoker when we were in the US, over to our LA office. We're propagating Poker through our subscription model right now in the WTP. We're actively talking to land-based operators and others who are potentially interested in getting into this marketplace when it regulates.
So we're sowing the seeds, if you will, right now and planting trees, preparing ourselves for re-entry. If and when it regulates, we'll be there.
And what further opportunities are you seeing in Europe?
Europe is an exciting place from a regulatory perspective right now. We have got Italy - and Italy is without question the fastest-growing poker market within the European Union. What you have to realise is, it is a regulated market now only for tournament poker. Tournament poker is 25 per cent of our core Poker business. Cash game poker makes up the balance. Cash game poker is in the process of being regulated, and hopefully will be so in the first half of 2010. Also with that, Casino games in the first half of 2010. And, hopefully in the second half, Bingo. So the Italian market is very exciting. We should expect to see some very nice growth coming from that country.
France? Hopefully mid-year will regulate online poker and sports betting. And Denmark, beginning of 2011. We also have the Spanish government, at a federal level, considering how best to manage online poker and regulation. So we're excited about some of the developments that we're seeing in the European marketplace.
Management focus and outlook
You now have a COO, Per Widerström. So how are you focused to strategically develop the business in 2010?
It's wonderful having Per. I was happy over 2009 to get actively involved in the operations, dig a little deeper and understand the business and perhaps put 'Jim Ryan's' thumbprint on the few areas that I felt I could contribute. Per, an experienced online gaming executive joining the team, taking over the day-to-day operations, will free me up to do a couple of important things. First and foremost, make sure that we monetise the synergies from the deals that we've done in 2009. Secondly, focus on new M&A opportunities. And lastly, contribute to the growth of our B2B and B2G efforts, not only in Europe but hopefully in the United States.
Are you happy with the way the year has started? And what's your outlook for the business in 2010?
We have started this year very positively, and we're quite confident and optimistic about our growth prospects for the balance of the year. (Credit: Cantos)
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Media Man
PartyGaming Plc 2009 Full Year Results
PartyGaming News
Websites
PartyCasino.com PartyPoker.com PartyBingo.com PartyBets.com World Poker Tour WPT Casino
4th March 2010
PartyGaming Plc
Audited results for the year ended 31 December 2009
Total revenue of $446.2m (2008: $472.9m) with a softer performance in poker mitigated by growth in all other verticals
Continuing Clean EBITDA* of $135.0m (2008: $144.2m); slightly ahead of market expectations
Continuing Clean EPS* of 21.5 cents (2008: 24.9 cents); total Clean EPS of 21.3 cents (2008: 22.2 cents)
Non-Prosecution Agreement reached with the US authorities with associated costs of $105.0m of which $15.0m was paid in 2009, resulting in a loss after tax of $26.5m
Acquisition of Cashcade and World Poker Tour completed
Net cashflow from Continuing operations of $120.5m (2008: $125.2m) with net cash at the year end of $164.7m (2008: $201.4m)
Commenting on today’s results announcement, Jim Ryan, Chief Executive Officer, said:
“We delivered a solid performance during 2009 which demonstrated the resilience of our business model that continues to generate strong cashflow, even in the most challenging of circumstances. Leading brands and market position, supported by a strong balance sheet underpin our business strategy. With some acquisitions and major B2B deals already under our belt, we plan to do more in 2010 and I believe we are on course to meet our objective of becoming the world’s most valuable online gaming company.”
Regarding current trading he added:
“The Group has continued to perform in-line with the Board’s expectations. In the two month period ended 28 February 2010, average gross daily revenue was $2,074,000 (Q409: $2,090,800) reflecting a 1% reduction from the fourth quarter of 2009 that included an exceptionally strong performance in casino. All other verticals increased average gross daily revenue from the previous quarter. In poker, new player sign-ups increased to an average of 1,700 per day (Q409: 1,400), and there were on average 55,900 active players per day (Q409: 51,700) generating average gross daily poker revenue of $709,000 (Q409: $690,000). In casino, average gross daily revenue was $775,600 (Q409: $854,800). In bingo, average gross daily revenue was $493,800 (Q409: $452,600) and in sports betting, average gross daily revenue was $95,600 (Q409: $93,400).
“Whilst the macroeconomic environment remains uncertain, we remain focused on executing our stated strategy and are confident about the Group’s prospects.”
About PartyGaming Plc
PartyGaming Plc is the world’s leading listed online gaming company. It is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year to 31 December 2009, PartyGaming’s Continuing operations generated revenues of $446.2m and Clean EBITDA of $135.0m. PartyGaming’s principal brands are PartyPoker.com, one of the world’s largest online poker rooms, EmpirePoker.com, PartyCasino.com, PartyBingo.com, PartyGammon.com, PartyBets.com, Intertrader.com, FoxyBingo.com, ThinkBingo.com, BingoScotland.com, CheekyBingo.com, GetMinted.com, WorldPokerTour.com and Gamebookers.com. None of the Group’s sites accept real money customers located in the US.
PartyGaming Group companies are regulated and licensed by the Governments of Gibraltar and Italy and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counseling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
PartyGaming News
Websites
PartyCasino.com PartyPoker.com PartyBingo.com PartyBets.com World Poker Tour WPT Casino
4th March 2010
PartyGaming Plc
Audited results for the year ended 31 December 2009
Total revenue of $446.2m (2008: $472.9m) with a softer performance in poker mitigated by growth in all other verticals
Continuing Clean EBITDA* of $135.0m (2008: $144.2m); slightly ahead of market expectations
Continuing Clean EPS* of 21.5 cents (2008: 24.9 cents); total Clean EPS of 21.3 cents (2008: 22.2 cents)
Non-Prosecution Agreement reached with the US authorities with associated costs of $105.0m of which $15.0m was paid in 2009, resulting in a loss after tax of $26.5m
Acquisition of Cashcade and World Poker Tour completed
Net cashflow from Continuing operations of $120.5m (2008: $125.2m) with net cash at the year end of $164.7m (2008: $201.4m)
Commenting on today’s results announcement, Jim Ryan, Chief Executive Officer, said:
“We delivered a solid performance during 2009 which demonstrated the resilience of our business model that continues to generate strong cashflow, even in the most challenging of circumstances. Leading brands and market position, supported by a strong balance sheet underpin our business strategy. With some acquisitions and major B2B deals already under our belt, we plan to do more in 2010 and I believe we are on course to meet our objective of becoming the world’s most valuable online gaming company.”
Regarding current trading he added:
“The Group has continued to perform in-line with the Board’s expectations. In the two month period ended 28 February 2010, average gross daily revenue was $2,074,000 (Q409: $2,090,800) reflecting a 1% reduction from the fourth quarter of 2009 that included an exceptionally strong performance in casino. All other verticals increased average gross daily revenue from the previous quarter. In poker, new player sign-ups increased to an average of 1,700 per day (Q409: 1,400), and there were on average 55,900 active players per day (Q409: 51,700) generating average gross daily poker revenue of $709,000 (Q409: $690,000). In casino, average gross daily revenue was $775,600 (Q409: $854,800). In bingo, average gross daily revenue was $493,800 (Q409: $452,600) and in sports betting, average gross daily revenue was $95,600 (Q409: $93,400).
“Whilst the macroeconomic environment remains uncertain, we remain focused on executing our stated strategy and are confident about the Group’s prospects.”
About PartyGaming Plc
PartyGaming Plc is the world’s leading listed online gaming company. It is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year to 31 December 2009, PartyGaming’s Continuing operations generated revenues of $446.2m and Clean EBITDA of $135.0m. PartyGaming’s principal brands are PartyPoker.com, one of the world’s largest online poker rooms, EmpirePoker.com, PartyCasino.com, PartyBingo.com, PartyGammon.com, PartyBets.com, Intertrader.com, FoxyBingo.com, ThinkBingo.com, BingoScotland.com, CheekyBingo.com, GetMinted.com, WorldPokerTour.com and Gamebookers.com. None of the Group’s sites accept real money customers located in the US.
PartyGaming Group companies are regulated and licensed by the Governments of Gibraltar and Italy and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counseling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
PartyPoker, World Poker Tour and PartyGaming News, by Greg Tingle - March 2010
Websites
PartyPoker.com World Poker Tour website WTP Casino website Club WPT PartyCasino.com
PartyGaming's PartyPoker and World Poker Tour brands Huge News And Promotions Month
WSOP Qualifiers Underway At PartyPoker
Gibraltar – 3rd March 2010 PartyPoker.com is giving its customers the chance to play at the World Series of Poker® in Las Vegas for free. That’s right: win a $14,000 WSOP® package to the most famous poker event on the planet for absolutely nothing!
PartyPoker.com has just introduced a comprehensive range of qualifiers for the showpiece in Las Vegas, starting with irresistible daily freerolls. The qualifiers are online now and run until 13th June. The main $700+$50 satellites take place every Friday at 18.00ET and Sunday at 15.35ET, where one in 20 players will win a $14,000 WSOP package.
A PartyPoker.com spokesman said: “A comprehensive schedule of qualifiers for packages are now online. PartyPoker.com is offering more seriously cost effective ways to qualify for the WSOP than ever before. It doesn’t get much better than winning a package for absolutely nothing!”
All winners will be rewarded with a prize package worth $14,000. Each package includes:
$10,000 WSOP® main event buy-in
$2,000 spending money
Hotel accommodation and hospitality
All package winners will also be invited to join our exclusive WSOP® poker seminar when they get to Vegas. If they attend, they’ll receive expert advice, tuition and tips from Team Party, which includes successful players like Mike Sexton, Tony G, Kara Scott, Ian Frazer and other top pros.
Please note:
The main event at WSOP® 2010 will run from 5th to 17th July and be held in Las Vegas, USA
Players must be at least 21 years of age in order to be able to play at the WSOP®
Prize packages are non transferable and no cash alternative is available. By playing for and winning one of our WSOP® packages you declare that you are able to travel to the event in question, including being able to obtain any and all documents required for travel to that destination
The PartyPoker.com poker seminar will be attended by at least one of PartyPoker.com’s Team Party group of professional players; attendance will be finalised closer to the date of the WSOP® depending on the pros’ individual schedules
Please see our standard promotional terms and conditions
“World Series of Poker”® and “WSOP”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker® in any way.
PartyPoker Signs Italian Football Star Francesco Totti
PartyPoker has just enhanced its presence in the Italian online poker market after signing AS Roma captain and national football legend Francesco Totti to represent the famed poker site.
The Italian World Cup-winning footballer started playing for Roma’s senior side at the age of sixteen, and with 188 goals to his credit has now become the number-one goalscorer and most capped player in the club’s history. The 33 year-old Italy striker officially retired from international games on 20 July 2007 in order to concentrate his efforts with Roma but has since signalled he would be prepared to play at the 2010 World Cup Finals in South Africa, should he be needed.
As an official PartyPoker representative, Totti’s duties will include taking part in various advertising campaigns to promote the site, as well making celebrity appearances at PartyPoker.it online tournaments.
Following the news of his signing with PartyPoker, Francesco Totti said: “I have faced many challenges in my career and I always apply myself with skill, intelligence, loyalty and passion. You need all these abilities for poker and it is also a game that excites me and is a lot of fun. Thanks to PartyPoker.it, I am able to combine my passion for sport and the challenge of poker.”
PartyPoker seemed delighted with their new signing, and a PartyPoker spokesman commented: “We expect Totti to become the most capped player and number one goalscorer in our history. He is one of the greatest football players of his generation - the question is now will he be one of the greatest poker players of his generation too? What Totti strives for he normally succeeds in achieving! He is a huge signing.”
PartyPoker is a relative new comer to sponsoring professionals however has since made up for lost time, and has recently added poker pros Dragan Galic, Mike Sexton, Kara Scott, Tony G, Ian Frazer, Felipe “Mojave” Ramos, Bodo Sbrzesny and Remy Biechel to Team PartyPoker.
World Poker Tour Rake Race
$23,000 WPT Race on PartyPoker Top spot in the WPT Race Final awards a spectacular package to the WPT Grand Prix de Paris, from May 8 through 13 on the Champs Élysées at the Aviation Club de France!
The Gladiator
Gladiator promotion returns to PartyPoker. This time, the festivities run from March 3rd to April 1st and up to $7,500 in cold hard cash is on the line. The Gladiator’s payouts are based on the number of PartyPoints you rack up during the promotion on a daily basis. Accumulate 10 PartyPoints during just five days of the promotional period and you’ll gain entry into a high-stakes $10,000 freeroll. Players who earn 2,000 points for 25 days will be living the high life to the tune of a $7,500 cash prize.
There are $15,000 and $25,000 freerolls – both capped at 10,000 players – that will be held during the Gladiator promotion. Also up for grabs is a $12,500 World Series of Poker (WSOP) Main Event package. Players who earn 2,000 points every day during the 30-day promotional event will jet set their way to Las Vegas to compete in the 2010 WSOP Main Event. The $12,500 package includes the tournament’s $10,000 buy-in, $1,000 in spending money, and hotel accommodation.
Points don’t have to be earned on consecutive days, so earn them at your leisure while you face off in the Coliseum against the Gladiator. PartyPoker’s website explains, “For example, if you earn 10 points every day for 10 days, take five days off, and then earn 10 points on 10 more days of the promotion, you’ll get the prize for earning 10 points on 20 days.” That feat would be worth $15 and comes your way as a cash prize courtesy of PartyPoker. You can log into your PartyPoker account to check your progress as the month continues.
Now, it’s time to explain the fine print. First, the Gladiator is an opt-in promotion. Players who win the WSOP package can exchange it for $10,000 in cash and those who head to Las Vegas are obligated to don PartyPoker gear while playing in the Main Event. Last year, PokerStars pro Joe jcada99 Cada banked a healthy $8.5 million after winning the Main Event, outlasting Maryland woodsman Darvin Moon heads-up.
PartyPoker, which does not currently accept players from the United States, is looking forward to the third running of its popular points-based contest: “The Gladiator is back and the rewards are greater than ever before. This promotion is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.” During the Gladiator’s last running, Crown Casino Aussie Millions prize packages were up for grabs.
The Gladiator - more details
PartyPoker has announced the triumphant return of ‘The Gladiator’ and for one month only the popular online poker site will become a coliseum! As part of the promotion players can earn up to $7,500 in addition to WSOP (World Series of Poker) main event packages.
From 3rd March until 1st April who reaches the minimum target of 10 party points for five days will be able to claim entry into a $10,000 free roll. The more days a player wins points over the larger the prize will be, up to $7,500 cash!
Those most dedicated PartyPoker fans will be rewarded the most. For example if you earn 2,000 points everyday for the full 30 days, you’ll secure yourself a $12,500 WSOP Main Event package which includes: the buy-in, hotel, hospitality and spending money!
A PartyPoker spokesman said: “The Gladiator is back and the rewards are greater than ever before. This promotion is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.”
What’s also ultra impressive is that players don’t even need to earn points on consecutive days to win big prizes. The site will simply count up the number of days targets have been made during the promotion. You can keep track of how many points you’ve picked up so far in ‘The Gladiator’ promotion by checking your Party Account. Points are not removed from player accounts after the promotion either; they all count towards Palladium Lounge targets.
Monthly Million
Also returning to PartyPoker is the Monthly Million, which will play out this Sunday, March 7th. The Monthly Million attracted a starting grid of 1,584 players in February, which means that it fell about $50,000 short of its $1 million guarantee. The tournament takes place on the first Sunday of every month.
Players receive a starting stack of 20,000 chips in the Monthly Million and the price of poker goes up every 20 minutes. Antes kick in during the sixth level of play, when the blinds are 250-500. Qualifiers for the Monthly Million are taking place continuously on PartyPoker and you can win your way in for as little as $1.
David Benyamine Wins PartyPoker Premier League IV - February 2010
Frenchman David Benyamine took down the fourth PartyPoker Premier League title, defeating embattled pro Luke “Full_Flush” Schwartz heads-up. Benyamine earned $476,000!
Team PokerStars Pro member Daniel Negreanu and Full Tilt's Roland de Wolfe qualified via heads-up matches for the six-handed final table. Negreanu outlasted J.C. Tran in his heads-up encounter, while de Wolfe bested PartyPoker pro Ian Frazer. At the final table, each player began with 10,000 chips for every point they had accrued during Premier League play. Consequently, Unabomber Poker frontman Phil Laak lead over the rest of the field with 480,000 chips, 100,000 ahead of Benyamine’s second place stack of 380,000.
After bleeding chips at the final table, however, including running a set into Negreanu’s flush, Laak was the first casualty. He called all-in pre-flop with pocket tens and was up against Benyamine’s A-K. An old fashioned race would determine the winner of the 300,000-chip pot and the flop came Q-4-2, keeping Laak’s wired pair in front. However, Benyamine spiked an ace on the turn to pull away for good.
Shortly thereafter, de Wolfe departed in fifth place from the PartyPoker Premier League IV final table. He committed his final 240,000 chips with A-J offsuit pre-flop and Negreanu came along with pocket nines. The flop came down K-9-3, giving Negreanu a set, and a seven on the turn left de Wolfe drawing dead. A meaningless ace hit on the river and de Wolfe exited stage right. The hand moved Negreanu into the chip lead with four players remaining.
Negreanu then ran pocket sevens into Schwartz’s pocket kings to drop down to 131,000 in chips. He’d hit the rail after pushing with Q-5 of clubs on a board of K-9-Q with two clubs. Benyamine called with K-9 for top two pair and the turn was another king, giving Benyamine the win in the hand with a boat. Negreanu took fourth place in the Premier League, which emanated from the M Casino in Vegas.
Third place went to the lone online qualifier, Giovanni Safina. The Italian put his money in ahead, as his A-7 was well in front of the K-3 of Schwartz. With the latter in a gambling mood, the flop came 5-Q-6, keeping Safina out in front. The turn was a jack, leaving Schwartz drawing to a king or three on the river. Sure enough, a three peeled off, sending Safina out and setting up a heads-up showdown between Benyamine and Schwartz. The latter entered as better than a 2:1 chip leader.
Benyamine doubled up early with K-10 against K-7 to climb back into the running. On the final hand, the money went into the center with Benyamine holding Q-8 against Schwartz’s Q-2 on a flop of Q-5-3. Schwartz pushed all-in and Benyamine tanked before finally making the call, leading to an eruption from the youngster. According to coverage found on PokerNews, Schwartz commented, "Why'd you slow roll? That's an easy call." The board filled out 7-6 and Benyamine took down the Premier League title.
Payouts were given for Premier League points and final table finishing position. Accordingly, the final PartyPoker Premier League IV shook out as follows:
1. David Benyamine - $476,000
2. Luke "Full_Flush" Schwartz - $258,000
3. Giovanni Safina - $158,000
4. Daniel Negreanu - $132,000
5. Roland de Wolfe - $114,000
6. Phil Laak - $146,000
7. Ian Frazer - $52,000
8. J.C. Tran - $40,000
9. Phil Hellmuth - $38,000
10. Yevgeniy "Jovial Gent" Timoshenko - $32,000
11. Vanessa Rousso - $32,000
12. Tony G - $22,000
Following his win in the unique tournament series, Benyamine told Matchroom Sport organizers, “It feels really good winning a title; I’m still not used to doing it. The whole time, I never thought about winning. I just wanted to do what I thought was right. I know people always say that when they win, but it’s true.”
PartyGaming
PartyGaming is the parent company of World Poker Tour which they purchased last financial year.
PartyGaming is widely regarded as the world's most successful igaming company and is listed on the London Stock Exchange. The company was established in 1997. PartyGaming's brands including PartyPoker, World Poker Tour and PartyCasino has won a number of industry awards and commendations from entities such as eGaming Review, Gambling Online Magazine, Casino News Media, Poker News Media and Media Man.
Websites
PartyPoker.com World Poker Tour website WTP Casino website Club WPT PartyCasino.com
Websites
PartyPoker.com World Poker Tour website WTP Casino website Club WPT PartyCasino.com
PartyGaming's PartyPoker and World Poker Tour brands Huge News And Promotions Month
WSOP Qualifiers Underway At PartyPoker
Gibraltar – 3rd March 2010 PartyPoker.com is giving its customers the chance to play at the World Series of Poker® in Las Vegas for free. That’s right: win a $14,000 WSOP® package to the most famous poker event on the planet for absolutely nothing!
PartyPoker.com has just introduced a comprehensive range of qualifiers for the showpiece in Las Vegas, starting with irresistible daily freerolls. The qualifiers are online now and run until 13th June. The main $700+$50 satellites take place every Friday at 18.00ET and Sunday at 15.35ET, where one in 20 players will win a $14,000 WSOP package.
A PartyPoker.com spokesman said: “A comprehensive schedule of qualifiers for packages are now online. PartyPoker.com is offering more seriously cost effective ways to qualify for the WSOP than ever before. It doesn’t get much better than winning a package for absolutely nothing!”
All winners will be rewarded with a prize package worth $14,000. Each package includes:
$10,000 WSOP® main event buy-in
$2,000 spending money
Hotel accommodation and hospitality
All package winners will also be invited to join our exclusive WSOP® poker seminar when they get to Vegas. If they attend, they’ll receive expert advice, tuition and tips from Team Party, which includes successful players like Mike Sexton, Tony G, Kara Scott, Ian Frazer and other top pros.
Please note:
The main event at WSOP® 2010 will run from 5th to 17th July and be held in Las Vegas, USA
Players must be at least 21 years of age in order to be able to play at the WSOP®
Prize packages are non transferable and no cash alternative is available. By playing for and winning one of our WSOP® packages you declare that you are able to travel to the event in question, including being able to obtain any and all documents required for travel to that destination
The PartyPoker.com poker seminar will be attended by at least one of PartyPoker.com’s Team Party group of professional players; attendance will be finalised closer to the date of the WSOP® depending on the pros’ individual schedules
Please see our standard promotional terms and conditions
“World Series of Poker”® and “WSOP”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker® in any way.
PartyPoker Signs Italian Football Star Francesco Totti
PartyPoker has just enhanced its presence in the Italian online poker market after signing AS Roma captain and national football legend Francesco Totti to represent the famed poker site.
The Italian World Cup-winning footballer started playing for Roma’s senior side at the age of sixteen, and with 188 goals to his credit has now become the number-one goalscorer and most capped player in the club’s history. The 33 year-old Italy striker officially retired from international games on 20 July 2007 in order to concentrate his efforts with Roma but has since signalled he would be prepared to play at the 2010 World Cup Finals in South Africa, should he be needed.
As an official PartyPoker representative, Totti’s duties will include taking part in various advertising campaigns to promote the site, as well making celebrity appearances at PartyPoker.it online tournaments.
Following the news of his signing with PartyPoker, Francesco Totti said: “I have faced many challenges in my career and I always apply myself with skill, intelligence, loyalty and passion. You need all these abilities for poker and it is also a game that excites me and is a lot of fun. Thanks to PartyPoker.it, I am able to combine my passion for sport and the challenge of poker.”
PartyPoker seemed delighted with their new signing, and a PartyPoker spokesman commented: “We expect Totti to become the most capped player and number one goalscorer in our history. He is one of the greatest football players of his generation - the question is now will he be one of the greatest poker players of his generation too? What Totti strives for he normally succeeds in achieving! He is a huge signing.”
PartyPoker is a relative new comer to sponsoring professionals however has since made up for lost time, and has recently added poker pros Dragan Galic, Mike Sexton, Kara Scott, Tony G, Ian Frazer, Felipe “Mojave” Ramos, Bodo Sbrzesny and Remy Biechel to Team PartyPoker.
World Poker Tour Rake Race
$23,000 WPT Race on PartyPoker Top spot in the WPT Race Final awards a spectacular package to the WPT Grand Prix de Paris, from May 8 through 13 on the Champs Élysées at the Aviation Club de France!
The Gladiator
Gladiator promotion returns to PartyPoker. This time, the festivities run from March 3rd to April 1st and up to $7,500 in cold hard cash is on the line. The Gladiator’s payouts are based on the number of PartyPoints you rack up during the promotion on a daily basis. Accumulate 10 PartyPoints during just five days of the promotional period and you’ll gain entry into a high-stakes $10,000 freeroll. Players who earn 2,000 points for 25 days will be living the high life to the tune of a $7,500 cash prize.
There are $15,000 and $25,000 freerolls – both capped at 10,000 players – that will be held during the Gladiator promotion. Also up for grabs is a $12,500 World Series of Poker (WSOP) Main Event package. Players who earn 2,000 points every day during the 30-day promotional event will jet set their way to Las Vegas to compete in the 2010 WSOP Main Event. The $12,500 package includes the tournament’s $10,000 buy-in, $1,000 in spending money, and hotel accommodation.
Points don’t have to be earned on consecutive days, so earn them at your leisure while you face off in the Coliseum against the Gladiator. PartyPoker’s website explains, “For example, if you earn 10 points every day for 10 days, take five days off, and then earn 10 points on 10 more days of the promotion, you’ll get the prize for earning 10 points on 20 days.” That feat would be worth $15 and comes your way as a cash prize courtesy of PartyPoker. You can log into your PartyPoker account to check your progress as the month continues.
Now, it’s time to explain the fine print. First, the Gladiator is an opt-in promotion. Players who win the WSOP package can exchange it for $10,000 in cash and those who head to Las Vegas are obligated to don PartyPoker gear while playing in the Main Event. Last year, PokerStars pro Joe jcada99 Cada banked a healthy $8.5 million after winning the Main Event, outlasting Maryland woodsman Darvin Moon heads-up.
PartyPoker, which does not currently accept players from the United States, is looking forward to the third running of its popular points-based contest: “The Gladiator is back and the rewards are greater than ever before. This promotion is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.” During the Gladiator’s last running, Crown Casino Aussie Millions prize packages were up for grabs.
The Gladiator - more details
PartyPoker has announced the triumphant return of ‘The Gladiator’ and for one month only the popular online poker site will become a coliseum! As part of the promotion players can earn up to $7,500 in addition to WSOP (World Series of Poker) main event packages.
From 3rd March until 1st April who reaches the minimum target of 10 party points for five days will be able to claim entry into a $10,000 free roll. The more days a player wins points over the larger the prize will be, up to $7,500 cash!
Those most dedicated PartyPoker fans will be rewarded the most. For example if you earn 2,000 points everyday for the full 30 days, you’ll secure yourself a $12,500 WSOP Main Event package which includes: the buy-in, hotel, hospitality and spending money!
A PartyPoker spokesman said: “The Gladiator is back and the rewards are greater than ever before. This promotion is about spreading play over a period of time for maximus rewards! It is simple and offers great value and we encourage players to challenge themselves and take a closer look.”
What’s also ultra impressive is that players don’t even need to earn points on consecutive days to win big prizes. The site will simply count up the number of days targets have been made during the promotion. You can keep track of how many points you’ve picked up so far in ‘The Gladiator’ promotion by checking your Party Account. Points are not removed from player accounts after the promotion either; they all count towards Palladium Lounge targets.
Monthly Million
Also returning to PartyPoker is the Monthly Million, which will play out this Sunday, March 7th. The Monthly Million attracted a starting grid of 1,584 players in February, which means that it fell about $50,000 short of its $1 million guarantee. The tournament takes place on the first Sunday of every month.
Players receive a starting stack of 20,000 chips in the Monthly Million and the price of poker goes up every 20 minutes. Antes kick in during the sixth level of play, when the blinds are 250-500. Qualifiers for the Monthly Million are taking place continuously on PartyPoker and you can win your way in for as little as $1.
David Benyamine Wins PartyPoker Premier League IV - February 2010
Frenchman David Benyamine took down the fourth PartyPoker Premier League title, defeating embattled pro Luke “Full_Flush” Schwartz heads-up. Benyamine earned $476,000!
Team PokerStars Pro member Daniel Negreanu and Full Tilt's Roland de Wolfe qualified via heads-up matches for the six-handed final table. Negreanu outlasted J.C. Tran in his heads-up encounter, while de Wolfe bested PartyPoker pro Ian Frazer. At the final table, each player began with 10,000 chips for every point they had accrued during Premier League play. Consequently, Unabomber Poker frontman Phil Laak lead over the rest of the field with 480,000 chips, 100,000 ahead of Benyamine’s second place stack of 380,000.
After bleeding chips at the final table, however, including running a set into Negreanu’s flush, Laak was the first casualty. He called all-in pre-flop with pocket tens and was up against Benyamine’s A-K. An old fashioned race would determine the winner of the 300,000-chip pot and the flop came Q-4-2, keeping Laak’s wired pair in front. However, Benyamine spiked an ace on the turn to pull away for good.
Shortly thereafter, de Wolfe departed in fifth place from the PartyPoker Premier League IV final table. He committed his final 240,000 chips with A-J offsuit pre-flop and Negreanu came along with pocket nines. The flop came down K-9-3, giving Negreanu a set, and a seven on the turn left de Wolfe drawing dead. A meaningless ace hit on the river and de Wolfe exited stage right. The hand moved Negreanu into the chip lead with four players remaining.
Negreanu then ran pocket sevens into Schwartz’s pocket kings to drop down to 131,000 in chips. He’d hit the rail after pushing with Q-5 of clubs on a board of K-9-Q with two clubs. Benyamine called with K-9 for top two pair and the turn was another king, giving Benyamine the win in the hand with a boat. Negreanu took fourth place in the Premier League, which emanated from the M Casino in Vegas.
Third place went to the lone online qualifier, Giovanni Safina. The Italian put his money in ahead, as his A-7 was well in front of the K-3 of Schwartz. With the latter in a gambling mood, the flop came 5-Q-6, keeping Safina out in front. The turn was a jack, leaving Schwartz drawing to a king or three on the river. Sure enough, a three peeled off, sending Safina out and setting up a heads-up showdown between Benyamine and Schwartz. The latter entered as better than a 2:1 chip leader.
Benyamine doubled up early with K-10 against K-7 to climb back into the running. On the final hand, the money went into the center with Benyamine holding Q-8 against Schwartz’s Q-2 on a flop of Q-5-3. Schwartz pushed all-in and Benyamine tanked before finally making the call, leading to an eruption from the youngster. According to coverage found on PokerNews, Schwartz commented, "Why'd you slow roll? That's an easy call." The board filled out 7-6 and Benyamine took down the Premier League title.
Payouts were given for Premier League points and final table finishing position. Accordingly, the final PartyPoker Premier League IV shook out as follows:
1. David Benyamine - $476,000
2. Luke "Full_Flush" Schwartz - $258,000
3. Giovanni Safina - $158,000
4. Daniel Negreanu - $132,000
5. Roland de Wolfe - $114,000
6. Phil Laak - $146,000
7. Ian Frazer - $52,000
8. J.C. Tran - $40,000
9. Phil Hellmuth - $38,000
10. Yevgeniy "Jovial Gent" Timoshenko - $32,000
11. Vanessa Rousso - $32,000
12. Tony G - $22,000
Following his win in the unique tournament series, Benyamine told Matchroom Sport organizers, “It feels really good winning a title; I’m still not used to doing it. The whole time, I never thought about winning. I just wanted to do what I thought was right. I know people always say that when they win, but it’s true.”
PartyGaming
PartyGaming is the parent company of World Poker Tour which they purchased last financial year.
PartyGaming is widely regarded as the world's most successful igaming company and is listed on the London Stock Exchange. The company was established in 1997. PartyGaming's brands including PartyPoker, World Poker Tour and PartyCasino has won a number of industry awards and commendations from entities such as eGaming Review, Gambling Online Magazine, Casino News Media, Poker News Media and Media Man.
Websites
PartyPoker.com World Poker Tour website WTP Casino website Club WPT PartyCasino.com
Wednesday, March 03, 2010
SEO News Media Blog: SEO For Pop Culture, Combat Sports and Gaming
SEO News Media Blog
Pop Culture, Streaming and Wrestling News
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What Is Online Publishing?
If you’re reading this, chances are you’re familiar with at least some basic forms of online publishing. But what is online publishing, exactly?
In the most general sense, online publishing simply refers to any kind of content that’s published and distributed on the internet. This could include anything from blog posts and articles to video content creation and infographics.
But while the definition of online publishing is fairly straightforward, there’s a lot more to it than meets the eye (like: what digital publishing platforms to use). In this complete guide, we’ll take a closer look at everything you need to know about online publishing.
By the end of this article, you should have a firm understanding of what online publishing is and how it can be used to reach your target audience. So let’s get started!
Benefits Of Online Publishing
There are many benefits of online publishing, including:
Reach a global audience: Digital publications will find that they can reach readers all over the world with just a few clicks.
Cost-effective: There are no printing or distribution costs associated with online publishing, so it can be a very cost-effective way to get your work out there.
Immediate feedback: Readers can leave comments and feedback on your work almost immediately, which can be extremely valuable for getting constructive criticism and improving future work.
Increased visibility: E-publishing can help increase the visibility of your work, which can lead to more readers and followers. Folks can find you easily with a wifi connection, even using their smartphone, laptops, or e-reader to access your published content.
Greater control: With online publishing, you have complete control over how your work is presented and distributed, so you can make sure it reaches the right audience.
Monetization: There are plenty of ways to monetize your content, like serving ads on your page to readers, subscriptions-based business models, affiliate marketing links, or sponsored content.
Types Of Content For Online Publishing
There are many different types of content that can be published online, from blog posts and articles to eBooks and audio files. The best way to determine what type of content will work best for your online publication is to consider your audience and what they are looking for. Here are some popular types of content for online publishing:
Blog Posts: Blog posts are a great way to share your thoughts and ideas with the world. They can be about any topic you like, and you can easily incorporate images, videos, and links into your post to make it more engaging.
Articles: Articles are similar to blog posts, but they tend to be more informative in nature. If you have expertise on a particular subject, writing articles can be a great way to share your knowledge with others.
Digital Magazines: Digital or online magazines generally follow the format you would expect from a traditional, in-print magazine…only, they are entirely online. An example would be The Ecclesiestical Review, an arts and culture magazine.
eBooks: eBooks are a great way to share longer pieces of writing with your audience. They can be downloaded and read on various devices, increasing functionality and convenience for busy people who want to learn more about a certain topic.
Audio Files: Audio files are another popular type of content for online publishing. You can create podcasts or simply record yourself talking about a particular subject. This is a great option for people who prefer to listen to information instead of reading it.
Interactive Content: This may include something simple like the ability to “zoom in/out” on a product photo but it can also go more in-depth with multimedia elements. Think: reader instigated animations, parallax scrolling, or embedded tutorials/wizards.
Examples Of Online Publishing
There are a number of different ways that you can publish online, and the method that you choose will depend on your specific goals and needs. Here are some common examples of online publishing:
Blogs: A blog is a personal website or web diary where you can share your thoughts and ideas with the world. You can set up a blog for free using platforms like WordPress or Blogger.
Podcasts: A podcast is audio content usually published on third-party platforms like Spotify or Apple Podcasts. Podcasts are great because they can be collaborative; you can invite guests and experts to join you in discussions.
Social media: Social media platforms like Facebook, Twitter, and Instagram are great ways to share your content with a large audience. You can use social media to promote your blog posts, articles, or other forms of content.
E-commerce: If you sell products or services online, then you’re already engaged in e-commerce publishing for retailers. This type of publishing involves creating product pages, catalogs, descriptions, and other forms of content that help promote and sell your products or services.
Press releases: Press releases are short announcements that are often used to promote events or product launches. They can be published on your website or distributed to news outlets and other websites in an effort to generate publicity for your business.
Apps: You may decide to design and promote your own mobile app, whatever that might look like for your unique product/service. The app then becomes your published content and you would manage and promote it accordingly.
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