Another story from the BBC:
Half-year profits at online gambling firm Partygaming have been wiped out, after the firm ended trading in the US following a change in the law.
The PartyPoker website operator posted a pre-tax loss of $47.1m (£23.5m) for the six months to June. Last year it reported a pre-tax profit of $320.5m.
Laws passed in October last year in the US effectively made it illegal to trade there, hitting the business.
But continuing operations were performing "strongly", the firm added.
Posted by casino man in Gambling News at 10:41 AM BST
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Another story from the BBC:
Partygaming has reported a 65% jump in sales as it racked up a record number of new online poker players.
The company behind Partypoker, the world’s biggest online poker room, said group revenue rose to $320m (£180m) in the three months to December.
Partygaming said it signed up 229,277 new poker players during the fourth quarter of 2005, up from just over 180,000 in the previous year.
The firm has been trying to increase its customer base outside the US.
Posted by casino man in Gambling News at 10:11 AM GMT
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More from The Times Online:
THE Israeli family behind the world’s second-biggest online poker company looks set to become the next internet gambling billionaires after deciding to sell the PokerStars business.
The Scheinbergs, who recently moved the company’s operations to the Isle of Man, are understood to have appointed NM Rothschild, the City merchant bank, to sell or float PokerStars at a price of more than $2 billion (£1.2 billion).
PokerStars is the second-biggest virtual poker operator after PartyGaming, the company behind the PartyPoker.com website, whose four owners pocketed about £1 billion last summer after floating it on the London Stock Exchange with a value of £4.64 billion.
The flotation was the biggest and most colourful stock market listing of the year, propelling PartyGaming into the FTSE 100 index of Britain’s largest companies and thrusting its founder, Ruth Parasol, a former internet porn millionaire, into the limelight.
Posted by casino man in Gambling News at 12:41 AM GMT
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Another story from the BBC:
Shares in Partygaming, the firm which owns the Partypoker website, have risen nearly 10% to 128.5 pence after it reported a jump in user numbers.
Partygaming said it expected to beat 2005 profit forecasts thanks to growing numbers of punters and the successful launch of its new blackjack site.
Since they floated in June, Partygaming shares have had a rollercoaster ride.
They launched at 179p, but plunged to 67p in September after warning that new players were spending less money.
Posted by casino man in Gambling News at 3:41 PM GMT
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More from The Times Online:
PARTYGAMING, the London-listed owner of PartyPoker, the world’s largest internet poker site, hinted at acquisitions yesterday after it unveiled a sharp rise in revenues.
The group, which last month saw more than £2 billion wiped off its market value after warning of slowing growth rates, posted a 32 per cent rise in revenues to $220 million (£125 million).
It also pledged that it “remains comfortable” with market expectations for this year.
Shares in the group, which have more than halved in value since its float in June, gained 10 per cent — making it the biggest riser in the FTSE 100 — as investors regained confidence in the battered internet gaming sector.
Posted by casino man in Gambling News at 8:11 AM BST
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Another story from the BBC:
Partygaming will no longer let players of websites owned by rivals like Empire Online and Coral Eurobet gamble at the same tables as its Partypoker clients.
The online firm has launched a new platform just for its nine million customers, adding features including blackjack and gambling on card colours.
And new software will let it separate its players from those entering via "skin sites" such as Empire and Coral.
Empire Online shares fell 30% and those in Partygaming 8% on Monday afternoon.
Posted by casino man in Gambling News at 4:11 PM BST
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