LONDON – Party Bingo revenue is up by over 36 per cent to €13.1 million after a solid third quarter of 2010. The company announced that the surge in bingo revenue is thanks mainly to Party Gaming's recent acquisition of leading bingo provider Cashcade.
Party Gaming's figures for quarter three of this year are generally positive even though they struggled after the closure of many of the French parts of the business. Only poker revenues took at hit, with revenue falling by around 5 per cent to €29.6 million (from €31.3 in the same period of 2009). Sports betting was the best performing wing of the Party business as it generated 86 per cent more revenue than in quarter three of 2009 (from €2.9 million to $5.4 million).
The increase in revenue for Party Bingo as compared to the same period of last year means that average daily revenue currently totals €142,300, which is actually two per cent down from quarter two of this year.
Jim Ryan, CEO of Party Gaming said, “Total revenue was up by 9 per cent year-on-year with growth in all products except poker, despite the impact of having closed our French casino business at the end of June 2010. Excluding French casino, total revenue would have been up by 12 per cent year-on-year, driven by casino growth in other markets, acquisitions and a strong performance in sports betting.”
