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    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
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    Default PartyGaming sees 32% rise in fourth quarter sales

    Online gambling giant PartyGaming posted a 32% rise in fourth quarter sales, The Wall Street Journal reports.

    PartyGaming said sales rose to $132.2 million in the fourth quarter, up from $100.4 million last year. There have been rumors that the company is exploring a possible merger with bwin.

    From the WSJ:

    Finance director Martin Weigold told reporters on a conference call following the results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.

    Weigold admitted that the unusually strong sales rise is not sustainable going into 2010, but the company still expects to report double digit sales and profit growth in the year.

    The bullish outlook for 2010 sits comfortably with the group's 2009 earnings, which it expects to be ahead of its own board forecasts.

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    TheGooner is offline Private Member
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    I've seen a different variant of this report that explains that the 4Q rise is almost totally due to a bingo acquisition made - Cashcade Bingo I think - and it's results now being included in the Party Group totals..

    Other than that things seem very static at PartyGaming.
    3Q results were down 4%

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