Party Gaming’s Online Casino Sports Endeavor
Party Gaming has this year become an even more noticeable player in the online casino operating market and recently a potential power player in the world of online casino sports betting. In August, the company purchased European online casino Sportsbook Game Bookers, and although the acquisition raises the question of profitability in the US market, the decision was to push forward. The uncertain legal situation surrounding online casino sports betting in the US has fueled a marketing move which aims to increase awareness of their brand mainly in Europe, in an attempt to compensate for their potential loss of around 77 percent in revenue, which has been coming from US online casino sports bettors.
Founded in 1997, Party Gaming Plc is one of the leading online gaming companies, and is a well known pioneer in the online casino industry. Besides its potential piece of the online casino sports betting pie they wish for, they are most recognized with the online casino Party Poker, the world’s largest online poker room, which prides itself in its 1.2 million active players. Just recently Party Poker’s founders reached the 197th place on Forbes magazine’s annual list of the 400 richest Americans. Each is worth close to $1.8 billion.
Since 30 June 2005, Party Gaming Plc has been listed on The London Stock Exchange under the ticker: PRTY and has a market capitalization of over $8 billion. In the year to 31 December 2005, the Group had revenues of $977.7m and generated Clean EBITDA of $583.7m and profit before tax of $324.9m. Regulated and licensed by the Government of Gibraltar, and has customers in over 190 countries.