Online Poker News Blog

Party Gaming Stock Looking Up

Motely Fool has an article about the current state of PartyGaming. The company that runs Party Poker, one of the largest online poker rooms.  When the UIGEA hit, the company lost 75% of its business overnight. Since then, they have been focusing their efforts in Europe and other parts of the world and have been making a strong comeback to immense profitability. One of the strongest gaming markets is Germany where they have been advertising Party Poker.de with great success.

In July and August they had a daily revenue of $1.4 million dollars and were signing up 1,192 players a day.  Many UK football clubs (around 70) have agreed to promote party gaming exclusively for three years.

Poker currently accounts for 2/3 of the revenue with casino and the sportsbook sites gaining in popularity.  Poker in the peak of party poker accounted for 86% of the companies revenue.

The company is looking very strong and will have a price to earning ratio of 12.7 and 25.7 in 2008.  It looks like Motely Fool seems to think that PartyGaming may become a better bet then most would have imagined after the 2006 UIGEA bill.