Posts Tagged ‘Jim Ryan’

PartyGaming Sees Increase in Revenue

Tuesday, September 29th, 2009

MoneyThough the global recession is hurting most businesses, there are some that are thriving. Gun and ammunition manufacturers are making a killing due to Americans who fear that a government that is rapidly expanding its power may soon outlaw the sale of firearms. Fast food restaurants with dollar menus are fattening their wallets because consumers can’t afford good food. The chocolate industry has made a sweet profit because chocolate is a comfort food and right now a lot of people need to be comforted. Whatever company provides the paper for the unemployment offices is doing pretty well, too. The point is, though business in general is bad, some companies are still making money.

Count PartyGaming in that category. Between the second and third quarters of the year, PartyGaming, the parent company of PartyCasino, reported a 17% growth in average daily revenue for their online casino operations. At the half-year point, the company saw underlying earnings rise by 34.8%.

The increase in revenue is attributed to an aggressive marketing strategy as well as the launching of 60 new games. That expansion is believed to have added new customers and convinced established customers to stop by the site more often.  The increase in revenue is very welcome news to the company, who is paying $105 million to the US government in a settlement related to the Unlawful Internet Gambling Enforcement Act (UIGEA).

According to CEO Jim Ryan, though some of their websites have seen losses, PartyCasino has been their biggest earner.  He stated that “Casino has been our star performer and continues to go from strength-to-strength, consolidating our position as the world’s leading online casino.” That is good news indeed. So when you get a stomach ache from eating too much chocolate, log on to PartyCasino and enjoy the new games that have made the online casino profitable.

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