PartyGaming on the Rocks
PartyGaming is a shadow of its former self today as its share price droped another 13 percent, prompting analysts to suggest that its withdrawal from the US market on Friday 13th in the wake of new US gambling law, may have accounted for a 90 percent drop in revenue from its online Poker business.
A PartyGaming spokeperson said the player and table number tickers had been removed because it did not want rival operators to use this information against it. One such rival, Israeli-owned PokerStars, has already begun an aggressive recruitment campaign in an attempt to leapfrog PartyGaming as the world’s largest poker operator.
UBS analyst, Julian Easthop said, 'Liquidity drives revenues and PartyGaming will more than likely lose its market leading position.”
PartyGaming management is expected to comment when reporting its third-quarter figures later this week.
A PartyGaming spokeperson said the player and table number tickers had been removed because it did not want rival operators to use this information against it. One such rival, Israeli-owned PokerStars, has already begun an aggressive recruitment campaign in an attempt to leapfrog PartyGaming as the world’s largest poker operator.
UBS analyst, Julian Easthop said, 'Liquidity drives revenues and PartyGaming will more than likely lose its market leading position.”
PartyGaming management is expected to comment when reporting its third-quarter figures later this week.
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