Online casino gains keep PartyGaming winning despite the summer slowdown

ONLINE gambling firm PartyGaming saw its shares rise yesterday by two per cent after the group announced that strong returns at its casino division have kept revenues since 6 April in line with the first quarter.<br /><br />Chief executive Jim Ryan said that the group&rsquo;s casino branch &ldquo;continues to go from strength to strength&rdquo;, despite the difficult economic conditions after PartyCasino reported double-digit revenue growth, boosted by a major international marketing campaign that began last month and the launch of a number of new games.<br /><br />Poker revenue and sports betting are down on the first quarter, but a deal has been done with Intalot to launch a new Italian poker site, and European football &ndash; which generates the most money in sports betting &ndash; will recommence next month. PartyGaming has also recently signed deals which should see it make a strong impact on the bingo market, which is estimated to be worth around $1.5bn (&pound;923m) globally each year.<br /><br />After being badly burned in the American market three years ago, the company is increasing its marketing in the US, and has increased player numbers by doing so. Continuing cost savings and favourable currency movements should offset increased distribution expenses. Full year results are expected to be in line with those of 2008.