ANALYST VIEWS: IS PARTYGAMING A GOOD BET FOR INVESTORS?
GEETANJALI SHARMA | EXECUTION NOBLE
“We continue to like PartyGaming’s market position and would expect gaming revenues to start stabilising post World Cup as we had highlighted before. Overall, a messy but fair statement from PartyGaming and we remain buyers. Poker is weakest with USD decline of 15-17 per cent. However, this is being compensated by Casino.
Bingo and Sports performance is broadly in line with expectations.”
GEORGE GODBER | MATTERLEY ASSET MANAGEMENT
“For PartyGaming, the US legislation is the big thing because the betting market is so massive there. If the ban is lifted, as the governmnet realizes how much tax it can raise on betting, then the company is very well placed. It’s a cash generative, strong business and the business model is absolutely superb. Obviously the World Cup has produced record volumes and betting is becoming a very big success story.:
GREG FEEHELY | ALTIUM SECURITIES
“PartyGaming is a strong brand and I wouldn’t bet against it. It has a strong cash business and although the World Cup hasn’t heped it will be okay. It has strategic value and would be a good takeover for bwin or other companies with an interest in sports betting. I’m glad to see that it is reporting in euros now so it is much easier for investors and analysts to see exactly what is going on. We’ll obviously have to see what happens with gaming legislation in the US, but on the whole the company is due a bit of a bounce and is in good shape.”