PartyGaming Proceeds down in the Third Quarter

The latest release of PartyGaming on the earnings in the third quarter reported a decline compared to the same period last year with a significant recession, especially in the field of online poker.
In the third quarter of 2008, Party announced a 15% decline in profits generated from poker that fell hours up to £ 43.2 million (about U.S. $ 65 million). These numbers do not fully represent reality but the recent resumption of the PartyPoker site, which was the largest in the world before 2006, when its status as a publicly listed company in the stock market has forced withdrawal from the giant American market following approval of UIGEA. Since then, Party has turned into an online site financed privately.
The directors of administrative Party say they see hope for the future, even if the two recent difficult years have produced a significant devaluation of the giant of the game: assessed more than $ 7 billion in 2006, has now reached a historic low of $ 400-500 million. In addition to the still ongoing negotiations with the U.S. Department of Justice, the company hopes that the presidency Obama can lead to a financial environment more open and proactive. Party also considers enjoying a position of advantage for any possible merger or acquisition in the field of online gaming especially given the large availability of funds. A release of Reuters reported the statement the managing director of PartyGaming, Jim Ryan, who claims to be ready for a possible acquisition that would transform society.
Among the recent developments in the business of Party there is an agreement with the British ITV television for the production of online casinos, bingo and other games in an area that has already proved fruitful. Overall, profits for the quarter were $ 117 million, slightly less than the $ 119-million that had been estimated. Good results for casino and bingo partially offset the heavy losses of poker.