Partygaming back on top
Partygaming did recover some ground at the end of 2009. The company reported a marginal year-on-year (YoY) dent with total revenue falling 6% to $446.2m from $472.9m in 2008, but with performance up in all key verticals except poker but did reclaim top spot in liquidity for non-US facing companies.
Jim Ryan said: “PartyGaming’s performance was resilient, but not immune. In 2009 we focused on operations and improving our operations. In doing so we actually returned the business to growth. If you look at our 4th quarter all four product verticals grew, and grew dramatically.”
The company had a 17% quarter-on-quarter growth for poker, casinos, bingo and sports betting during that period. Ryan reported that he believes PartyGaming is in good shape for 2010. He pointed to an increased focus on Europe and regulated markets such as Italy, Denmark, France and possibly Spain.
While the company’s poker performance was down on 2008, they have made good progress and gained back its top spot for non-US facing poker sites. Ryan pointed to changes in its VIP and loyalty programmes, pricing modifications and promotions for the recent recovery – which belied a painful YoY fall of 44% in the vertical.
PartyGaming launched 80 games last year and has announced plans to add a further 50 in 2010, including branded Terminator, Sinatra and Rambo games. The product improvements and a major jackpot helped to drive interest and revenues.