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Online Casinos Stats News
PartyGaming shares are up
December 7
It seems there is a new development with PartyGAming stock value. The
new hike in stock value for the online casinos company is due in part to
the fact that it expects its full-year profit to exceed analysts'
estimates after customers played more online casino poker and started
trying new online casino games such as blackjack.
Daily poker revenue rose 14% to $2.67 million in the two months that
ended November 30 compared with the average for the previous quarter.
What's more, daily online casino revenue was as much as 7 times higher
than the average for the third quarter at $1.2 million after the company
introduced blackjack on October 8.
The company says that it is returning to favor with investors after
signs of a slowdown in revenue growth caused its stock to drop below the
price of June's initial public offer. Investors applied for three times
more stock than was available in the $1.9 billion share sale on
expectations that the popularity of online poker will spur growth in an
industry that's expanded 10- fold in three years.
PartyGaming is currently being sued by Empire Online.
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