Revenues Way Up At PartyGaming

PartyGaming has reported a huge rise in revenues for the year 2010.

Revenues rose by 15 percent from 2009 to €357.3m (£300m) to €310.1m, with casino revenues jumping to €151.4m from €136.3m, bingo revenues more than doubling to €51.4m from €22.8m and sports betting climbing to €20.8m from €13.2m. Poker revenues fell to €124.8m from €136.8m.   Pre-tax profits fell to €43.8m from €57.4m.

“Partygaming is confident about delivering the cost and revenue synergies” already identified of 55 million euros per year by 2013,” Chief Executive Officer Jim Ryan said in the statement.

The company is expected to merge with Austria’s bwin by month’s end, making the combined group the biggest online gambling firm in the world. 

- Aaron Goldstein, Gambling911.com