Wednesday, February 17, 2010

PARTYPOKER GIVES NOTICE OF THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)

PARTYPOKER.COM INTRODUCES THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)!

Gibraltar – 16th February 2010 – PartyPoker.com is delighted to give notice that in March they will be hosting the inaugural Online Cash Game Championships (OCGC).

A PartyPoker.com spokesman said: “ Anyone can claim the crown: you don’t have to be a regular at the high-stakes tables. It’s a long, hard road to victory with $250,000 waiting to be won, the tables are sure to be packed this March. But, when the dust has settled, only the most skilful cash players will take the plaudits.”

The competition is divided into seven levels. At each level, players will need to play 400 hands in a day with the most profitable players advancing towards the final table which takes place on 2nd April. As the participants progress through the levels, cash prizes will be added and both the stakes and the quality of the opposition will increase. The first stage of this epic challenge runs from 1st to 5th March on PartyPoker.com’s $0.50/$1 no-limit hold’em cash tables.

Please note that customers have to opt in to take part in the Online Cash Game Championships.

See: PartyPoker.com for more information.

** Canadian VIP Hockey event – There are 120 all star NHL packages up for grabs for Palladium Lounge members this month: see: PartyPoker.com for more information.

PartyPoker.com is also offering $1 million in guaranteed WPT packages between February and May. See: PartyPoker.com for the details.

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PartyGaming Casino Bets Boost Fourth Quarter; Satisfied players and management, by Greg Tingle - 17th February 2010

Online gambling group PartyGaming last week reported a 32% rise in fourth quarter sales as the thawing economic climate prompts punters to return to its virtual poker and casino tables to play the group's improved online games.

The company, which is listed on the London stock exchange but based in tax-friendly Gibraltar, said sales rose to $132.2 million in the three months to Dec. 31 from $100.4 million last year, helped by two acquisitions and a particularly strong performance in its casino division which offers online casino games like slots, blackjack and roulette, online poker games, sports betting and spread betting services.

PartyPoker.com remains the companies flagship brand however in the past 12 months PartyCasino.com has experienced considerable growth and brand presence, boosted by both branded slot games like Rambo, Mission: Impossible, Top Gun, Call Of Action 4: Modern Warfare, Resident Evil, The Terminator, Saturday Night Fever, The Godfather, a host of Marvel Entertainment themed games, and the recent news media campaign of which cricket and reality TV figure Phil 'Tuffers' Tufnell is the front man for.

PartyGaming is still on the look out for more igaming and betting sector companies to buy up following it's successful purchases of World Poker Tour and Cashcade. Earlier this month PartyGaming inked a "white label" deal with London Capital Group enhancing its spread betting offerings.

The company is the world's biggest listed online gaming group by market capitalization, derives most of its revenue from online poker and casino games and owns and operates a more modest sized sports book and bingo business, which is currently on the upswing.

Finance director Martin Weigold told reporters on a conference call following the results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.

Weigold advised that the unusually strong sales rise is not sustainable going forward into 2010, however the company still expects to report double digit sales and profit growth in the year.

The bullish outlook for 2010 sits comfortably with the group's 2009 earnings, which it expects to be ahead of its own board forecasts.

Weigold said market consensus is for 'clean' earnings before interest, tax, depreciation and amortization, or Ebitda, of $132 million in 2010, and PartyGaming expects to outperform this.

'Clean' Ebitda is the company's preferred measure of profitability and excludes one-off, non-recurring and non-cash items. It is due to report is full year results March 4.

The good news buoyed PartyGaming shares, up 3.2% or 9 pence to 294p.

Alongside casino improvements, PartyGaming also reversed an 18-month trend of quarter-on-quarter revenue declines for its poker division, posting a 9% rise in sales to $49.1 million.

PartyGaming's poker operations had been under pressure due to competition from rivals, and the company has reacted by increasing the bonuses paid and expanding its loyalty programs (PartyPoints and Palladium Lounge)to encourage customers onto the site and retain them. Certainly Asia Pacific - Australian based players are sticking with it, based on feedback and buzz passed onto Asia Pacific's Media Man and Casino News Media firms.

The online gaming sector was hit by the passing of the Unlawful Internet Gambling Enforcement Act in October 2006 which effectively shut down the ultra lucrative market in the U.S. In Europe though, E.U. competition rules have prompted countries to start to open up their regulatory regimes to new players, and PartyGaming is looking to expand its operations when this happens.

It already has a growing presence in Italy, and with France and Denmark due to formalize regulation this year and next, the company is confident of its future growth prospects. South Africa, South America and India also appear to be countries well suited to grow the business. The Australian market is on fire says industry insiders. Australians remain some of the world's most passionate punters, in the top ten says recent figures quoted in the likes of Forbes, News Limited, Fairfax, WSJ, AP and Google News. The Aussie's are massive fans of the Hollywood blockbuster slot games and Marvel Entertainment titles Thor, The Incredible Hulk, Fantastic Four and The Amazing Spider-Man. Insiders advise Aussies are punting big in search of the Marvel Hero Jackpot, almost as popular as Party's 'The Big One' and 'Gold Mega Jackpot', currently sitting on approximately 3 million dollars.

PartyGaming is well aware that it's in the entertainment business and is pro active in putting the Business in Show, while maintaining happy punters, clients, partners and investors.

In addition the company is in discussions with other operators about potential deals and takeovers, although Chief Executive Jim Ryan wouldn't be drawn on whether a transformational deal would be forthcoming this year. Bwin's name keeps coming up, but its one of dozens who are keen to ink high end deals with PartyGaming.

Numis analyst Andrew Wade said he believes PartyGaming's fourth quarter performance should position it well for any merger and acquisition discussions, "as well as confirming it as an attractive partner for State and Private companies wanting to enter new markets."

The company is currently experiencing considerable growth in the Asia Pacific - Australian region, and is poised to return to the United States market, which compliments its strategic purchase of World Poker Tour, not to forget masses of U.S residents keen to play PartyGaming's Hollywood blockbuster slot games.

PartyGaming is expected to have presence at the upcoming iGaming Business event in Sydney, Australia this coming March.

*The writer has a b2b relationship with PartyGaming, as they do with dozens of brands in the igaming, gaming, media and entertainment industry.

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Saturday, February 6, 2010

PartyGaming News: Online gamers set for consolidation wave in 2010

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Consolidation among online gaming firms is set to spark into life in 2010 with a possible deal between PartyGaming and Austria's bwin seen as the potential catalyst for a wave of takeover activity.

"I think 2010 is going to be the determining year," said one senior executive of an online gaming group who asked not be named.

"I do think there's going to be a domino effect, meaning the first deal gets everybody else to run. You don't want to be the last one left without a partner."

If a merger of Party and bwin were to materialize, it could cajole the likes of 888, Sportingbet and Playtech into tie-ups.

Traditional betting firms like Ladbrokes, William Hill and Paddy Power may also look to make acquisitions to boost their online presence.

Numis analyst Wyn Ellis says M&A activity across the sector is "inevitable."

"We believe that consolidation talks are widespread across the online gaming sector and that most companies could be considered to be both potential industry consolidators and takeover targets," he said.

Party and bwin have held early stage talks about a combination which would pair Party's strength in online gaming with bwin's expertise in sports betting.

Analysts say the logic behind the deal is compelling.

"Such a deal would bring Party the critical mass in sportsbook that it lacks, while for bwin, Party's casino and poker products would provide a significant boost to its presence in these markets," said KBC Peel Hunt analyst Nick Batram.

Daniel Stewart analyst James Hollins described the combination as "pretty epic."

"The combination would be very strategically strong. It's a pretty neat fit. PartyGaming is a very good poker brand. To combine that liquidity with bwin's network would be pretty impressive," he said.

Bwin shares have risen by over 300 percent since the beginning of 2009, boosted by ongoing merger speculation, a more favorable regulatory environment and the wider rally in Austrian shares, giving it a market value of $2.2 billion.

That compares with PartyGaming's $1.8 billion valuation, suggesting bwin would be the senior partner in a merger.

"The fact that bwin has edged ahead in terms of market cap may mean that the deal could happen earlier rather than later," said Cheuvreux analyst Alfred Reisenberger.

Hopes of industry consolidation and optimism over growth prospects are reflected in the companies' valuations.

Bwin is trading at around 24.5 times forecast 2009 earnings, compared with a price-earnings ratio for the Wiener Boerse Index of 21.7. PartyGaming is trading at 19.9 times forecast 2009 earnings, compared with a price-earnings ratio of 18.5 for the FTSE All Share Index.

Bwin's previous attempt to enter the lucrative poker market was ill-fated.

It bought Swedish poker operator Ongame in 2006 for almost half a billion euros to get a foot in the door of the United States poker market but its plan was scuppered when the United States effectively outlawed online gambling later in 2006. Bwin wrote off the entire investment in the same year.

Analysts say a number of factors have combined to make sector consolidation more likely over the next twelve months.

Most significant has been PartyGaming's agreement with U.S. authorities which will protect it from being prosecuted over its past activities there.

Deutsche Bank analyst Richard Carter said the settlement had given the online gaming sector "significantly more certainty and confidence and has enabled the capital markets to better understand the potential exposure of other online gaming companies that operated in the U.S."

Other online gaming companies which previously had U.S.-facing activities such as 888 and Sportingbet are also in talks with U.S. authorities with a view to reaching settlements.

The threat of retrospective action being taken against companies created enough uncertainty to derail deals such as Ladbrokes' proposed takeover of 888 which floundered in 2007.

The easing of those fears and greater clarity over the way the industry is regulated have led to banks being more comfortable with the sector and, therefore, more willing to provide credit for deals.

($1=.7122 Euro)

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Thursday, February 4, 2010

Gambler gives PartyGaming a £1.8million boost - 3rd February 2010

Online betting firm PartyGaming reported fourth-quarter revenue up by a third yesterday, helped by a single gambler who poured more than half of his £3.1million jackpot straight back into its slot machines.

The punter grabbed the huge rollover on the group's PartyCasino site, after PartyGaming hiked the amount it pays out for jackpot wins.

But after withdrawing £1.3million, he ploughed the remaining £1.8million into the group's slot machine games and lost the lot.

The unexpected cash injection helped PartyGaming to increase revenue by 32 per cent to £87.2million during the quarter, but the company also cited strong growth in all four of its divisions - casino games, poker, bingo and sports betting.

Chief executive Jim Ryan is thought to be close to tying up a merger with Austrian-based rival Bwin, in a deal that would create a £2billion gaming titan.

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Sunday, January 31, 2010

PKR nominated for Casino News Media - Media Man - Global Gaming Directory Awards, by Greg Tingle - December 2010

PKR.com nominated for Casino News Media - Media Man - Global Gaming Directory Awards - December 2010

Award winning online casino and online poker room, PKR.com, made the finals of the Casino News Media - Media Man - Global Gaming Directory "Online Casino of the Month" and "Online Poker Website of the Month".

The news comes as PKR enjoys a wave of momentum with a website revamp, more games, champion players flying the flag for PKR, and "Avatar" type technologies and sports betting on the way.

PKR also offer one of the world's most impressive new player sign ups and rewards systems.

For a unique poker and casino experience in 3D, check out PKR.com today.

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PartyPoker News: PartyPoker's Aussie Millions Millionaire Factory! Online Qualifiers Take First And Second!

PartyPoker's Aussie Millions Millionaire Factory! Online Qualifiers Take First And Second!

Gibraltar – 30th January 2010 – PartyPoker.com has even more reasons to celebrate this week after two of their online qualifiers finished in first and second place in the 2010 Aussie Millions Main Event at the Crown Casino in Melbourne. 23-year-old Tyron Krost, from Bondi, Sydney scooped first place and a stunning AUD$2,000,000, while Frederik Jensen, a 27-year-old from Copenhagen finished runner-up for AUD$1,100,100. The two online qualifiers dominated a final table that included star names such as Annette Obrestad and Sorel Mizzi.

Krost currently works in his family owned office furniture business in Sydney but now looks to be part of the furniture of the world poker circuit after his amazing win. He recently graduated after studying psychology and finance, both excellent skills for poker.

Sipping champagne with his large supporting contingent Krost said: “This is totally unbelievable - it is beyond my wildest dreams. If it is a dream, I don’t want to wake up! In total I spent $700 trying to qualify for a package and I have managed to turn that into AUD$2,000,000! I got some really good spots on the final table. When I needed a hand I seemed to get it.”

“It just hasn’t sunk in at all how much money I have just won. I have no idea what I am going to with it. I cashed at the World Series in 2008 but nothing like this.” One person who was also ecstatic was his girlfriend Carly, who was cheering him on from the rail.

749 players, including 43 PartyPoker.com online qualifiers, took part in the southern hemisphere’s premier poker event this week and one of those players, poker superstar Gus Hansen fell victim to Krost. “Gus knocked me out of the 2008 World Series of Poker Main Event and then I knocked him out in this tournament. Bit spooky that,” added Krost.

Krost’s win means that the Aussie Millions Main Event title stays in Australia and the PartyPoker.com camp for the second year running. Last year’s champion and Team Party member Stewart Scott was amongst the first to pass on congratulations. “I’m delighted for Tyron and I can honestly say I know what he is feeling like right now – it takes your breath away.”

Team Party’s latest signing Tony G was also delighted: “PartyPoker are on a roll. Our players are starting to dominate – it is bike time for the rest!”

Krost had been taking counsel from Tony G before the final table but doesn’t intend to adopt one of the Australian poker idols habits: “I will not be knocking people out and getting them to ride a bike. I will leave that to him!”

Tyron was full of praise for the runner-up and fellow online qualifier Frederik Jensen. “I have to say well played to Frederik. He is an excellent player. It is fantastic that when it came to heads-up there were just two PartyPoker qualifiers left.”

More details on the hands can be found at PartyPoker.com

** Qualifiers are now online at PartyPoker.com for the LA Poker Classic Main Event, which takes place at the Commerce Casino in LA from the 24th February – 4th March. One massive bonus is that if a PartyPoker.com online qualifier wins the tournament, there will be a brilliant $1 million payout with a $500,000 top up going to the winner and $500,000 shared amongst all the other online qualifiers, no matter where they finish in the event! **

More information can be found at: PartyPoker.com

® AUSSIE MILLIONS, AUSSIE MILLIONS POKER CHAMPIONSHIP and CROWN Device and associated trade marks are trade marks of Crown Melbourne Limited. No license, affiliation, sponsorship or endorsement, is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not affiliated, licensed, by, or otherwise affiliated with Crown Melbourne Limited in any way.

World Series of Poker”® and “WSOP”®, WSOPE”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship, or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker®, in any way.

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Tuesday, January 5, 2010

PARTYPOKER IS BEST PLACE TO QUALIFY FOR WPT - WIN THE LAPC MAIN EVENT AND SCOOP AN EXTRA $1 MILLION!!

** The Cash Machine at PartyPoker.com is back due to popular demand and there are still no limits when you raid the very special ATM! The 'Cash Machine' runs from 0000 ET on the 4th January until 23.59 on the 31st January. The premise is simple - the Cash Machine will convert PartyPoints into hard cash! To get the amazing unlimited cash reward, a player has to earn 10 or more PartyPoints on at least 10 days during the promotion. At the end of the promotion, PartyPoker.com will look at the PartyPoints collected by every player on their 10 highest-earning days, then match the number of points you accumulated on the lowest of those days with a cash reward of $1 for every point earned. For more information see: PartyPoker.com


PARTYPOKER.COM IS THE BEST PLACE TO QUALIFY FOR WPT

WIN THE LAPC MAIN EVENT AND SCOOP AN EXTRA $1 MILLION!!

Gibraltar – 4th January 2010 – Qualifiers are now online at PartyPoker.com for the LA Poker Classic Main Event, which takes place at the Commerce Casino in LA from the 24th February – 4th March. One massive bonus is that if a PartyPoker.com online qualifier wins the tournament, there will be a brilliant $1 million payout with a $500,000 top up going to the winner and $500,000 shared amongst all the other online qualifiers, no matter where they finish in the event!

The packages are worth $14,000 and include the $10,000 buy-in, seven nights’ luxury accommodation and $2,500 spending money. Qualifiers start from $3 but there is also DAILY freerolls into the sub-qualifiers running until the 7th February 2010. The main $700 + $50 LAPC weekly qualifier takes place every Sunday at 14.15 ET, where one $14,000 package will be awarded for every 20 players with two packages guaranteed.

PartyPoker.com spokesman and 2009 Poker Hall of Fame Inductee Mike Sexton said: “The PartyPoker.com packages are amazingly appealing to anybody who wants to attend the LA Poker Classic. The $1 million payout if an online qualifier takes down the Main Event offers superb extra value. Imagine if you bust out really early and then one of your fellow qualifiers went on to win, you’d still go home with your share of $500,000!”

“The LA Poker Classic is one of the largest and most popular events on the WPT. The reasons that players from around the world descend upon the Commerce Casino to play in the LA Poker Classic are numerous. They include: the structures of the tournaments, the multiple high buy-in events, and the tremendous cash games. If you're looking for big-time poker action head to the LA Poker Classic!”

Last year’s Main Event title was won by Cornel Cimpan, who scooped the fantastic £1,686,760 first prize. In 2008 the title was won by Phil Ivey and other previous winners of the Main Event include star names such as Antonio Esfandiari and Michael Mizrachi.

Commerce Casino Tournament Director Matt Savage said: “For every Phil Ivey that wins the LA Poker Classic there’s another up-and-comer who starts their legacy here. The LA Poker Classic is the largest WPT Event on the tour in the world's largest poker room. I am expecting over 700 players in the Main Event and with a schedule of 51 events the schedule has something for everyone.”

More information on how to qualify online can be found at PartyPoker.com

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