Disappointing Poker Results for Party Gaming

September 1 - Party Gaming's poker product continued to slip, following the announcement of the gambling company's latest financial report figures.

This online gambling giant, which saw an impressive rise in revenues overall, said that it was disappointed with the performance of its poker sector, after revealing that 19% less of its online poker customers were playing its games.

Following the announcement that trading in its poker products was "slightly softer than expected", Party Gaming shares slipped by 2% on the London Stock Exchange.

Party Gaming was pleased with its overall results which showed that underlying revenue rose by an excellent 76%. This number was mainly due to the rise in popularity of Party Gaming's online casino sector.

The company bounced back after being forced out of the US gambling market, following the passing of the Unlawful Internet Gambling Enforcement Act. Since then, Party Gaming has quietly being focusing on establishing itself in the international gambling arena with much success.

Party Gaming's only weak point seems to be its online poker products. While the games and products are excellent and certainly on par with or better than most other poker products out there, Party Gaming cannot compete with the huge bonuses and promotions offered by poker sites that are still operating in the US market. These sites have managed to grab a huge share of the market and can therefore afford to offer prize pools that are simply too huge in size for Party Gaming to compete with.

The Chief Executive of Party Gaming, Jim Ryan said: "Whilst trading in poker since June 30th has been slightly softer than we would have expected, the board remains confident about the group's future prospects."

Read our Party Poker Review.