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Party Gaming Satisfied with Q2 Results
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July 11 - Party Gaming, the industry leading gaming group, announced that it was satisfied with its second quarter earnings since April and that they were in line with the revenue achieved in the the first quarter of 2009.
One of the main reasons why Party Gaming's figures weren't higher than reported was the fact that the group took advantage of current market conditions to promote their products.
As an example, when the US Attorney's Office of the Southern District of New York seized players' funds from US facing poker sites, Party Gaming stepped in and started an aggressive marketing campaign to get players to try its sites instead.
The results of the marketing campaigns will only be felt in the coming months, however the money spent on advertising was reflected in the second quarter financial report.
There was a slight reduction in active poker player days compared to the first quarter of 2009, largely due to seasonality and strong competition from poker sites who cater to the US market.
However, Party Gaming admitted to going all out in a bid to enhance its player loyalty program, improve its player promotions and a new marketing campaign offline.
The costs of increasing player bonuses and loyalty rewards have also been taken into account in the second quarter.
There was also a significant increase in the casino revenue, according to Party Gaming.
"PartyCasino, the world's largest online casino, continues to go from strength to strength, with strong double digit growth quarter on quarter despite difficult economic conditions," said the company's Chief Executive, Jim Ryan. "We look forward to the rest of the year with confidence."
Read our Party Poker Review.
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