Party Time For PartyGaming
Introduction
In our recent poker blog posting “Super Euro Online Poker”, on this poker website, we informed you that PartyGaming was looking to merge with the Austrian online betting and poker site BWIN. Well it now looks like that deal has been sealed and is heading for completion sometime this summer, which is little wonder having seen the latest figures for PartyGaming.
USA online poker return
Looks like they know how to have some real Party Poker fun.
Late last week PartyGaming published its first quarter figures for 2010 which show a very nice increase on last year; and will surely have PartyGaming eyeing up a return to the poker in the USA. Q1 returns show PartyGaming revenues up by 27% to $127 million – despite PartyGaming currently not offering its PartyPoker website in the USA, having voluntarily withdrawn it in the wake of the 2006 anti online poker legislation of 2006. Having had time to see how well the other online poker sites that stayed operating in the USA have done – they are now looking for at least an online partner in the USA to resurrect their American poker tables; ahead of the long-hoped for overturning of the punitive anti-poker laws – when poker is finally accepted by the US legislators as a game of skill every bit as much as Bridge, another popular card game.
Share’s gambling
Despite all this good news for PartyGaming their share price has actually fallen by the odd percentage point during the early weeks of Q2; something that PartyGaming puts down to it simply being a quieter time of the year for them. With BWIN shares still available, and at an eighth the price of PartyGaming ones, you’ve got to ask yourself – “do you feel lucky today”? If you do then how about applying some of those poker skills to figuring out if buying some BWIN shares could pay a handsome dividend when PartyGaming finally moves all in for BWIN?