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Wednesday, December 20, 2006

PartyGaming recovering from UIGEA

A recent announcement from the company had reported the substantial impact of its departure from the US, as its poker income reached a low of $637,000 per day. However, the group has seen a steady recovery in generating over $25 million in revenues over the last four weeks, with an average of $721,000 per day.

Garber stated via a conference call that the Unlawful Internet Gambling Enforcement Act had been "a blow to our business for sure" before revealing his pleasure at the group's recovery. In terms of the company's future outlook, he declared, 'PartyGaming is no longer a poker-led, US-dependent and one language gaming operator. We are rapidly becoming a multi-lingual and multi-currency non-U.S. company.'

PartyGaming's strategic future would seem to lie very much within mergers and acquisition with the group actively looking for opportunities. Garber added, 'We will continue to pursue deals that are accretive and can add either management or product expertise to any of our operational lines, and we will be pushing further into new territories as a main and key objective of M & A, and in our organic business plan.'

posted by Clark Gamble at PartyGaming recovering from UIGEA

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