PartyGaming Revenue Up On Casino Business

Online gambling operator PartyGaming said Thursday revenue from continuing operations rose 24% as rapid growth in its casino and sports-betting units more than offset a slowdown for its core poker business.

The group said revenue from continuing operations climbed to $115.7 million from $93.3 million a year ago, and was also up 5% from the second quarter.

The numbers exclude its U.S. business, which was shut down roughly a year ago after the introduction of anti-gambling laws that banned the transfer of money to online gambling companies.

Including those U.S. customers, year-ago revenue was around $337 million.

PartyGaming said its poker revenue from continuing operations slipped 3% to $74.8 million after the loss of a number of high-value, non-U.S. players, who have moved to gambling sites that still cater to U.S. customers.

The loss of those players broadly offset a 37% rise in the number of unique active players to around 430,000.

Source: CBS MarketWatch