Online Gambling Company Player Boosts PartyGaming Profits - Monday 21st of January 2013

PartyGaming have seen a 32% rise in their fourth quarter revenues thanks to a plucky punter who just couldn’t find the cash out button. After the online gambling giants revamped their jackpot rules to attract more big money players to their slot machines, the biggest jackpot ever won on the site, £3.1 million, was claimed by an anonymous player. However, while most would be content to take the money and run this punter, sadly, didn’t and since winning the money has donated back almost half of their winnings. The reinjection of the funds helped PartyGaming secure a final quarter profit margin of £87.2 million across each of its four gambling divisions: poker, casino games, bingo and sports betting. Shares in the company also rose by 3% which exceeded the company’s pre-2009 predictions.

Indeed, PartyGaming’s poker arm, PartyPoker is now the third largest poker site in operation behind Full Tilt and Pokerstars, with 438,000 registered users. Party is also considering a potential expansion in the European market which could bring a merger with Austrian gaming company Bwin. If the two companies were to combine forces the joint effect would be a £2 billion internet gaming giant. Overall it looks as though the once flailing company is now making its assent back to the top of the online gambling world, indeed, chief executive Jim Ryan is optimistic about the company’s year ahead stating: "With some of the worlds largest gaming sites in poker, casino and bingo, and opportunities to further consolidate the online gaming sector, we are confident about our future prospects."

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