Party Poker Q3 Poker Revenue Hit - Plans Acquisitions
November 25, 2008 - Thomas Clarke
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According to the latest quarterly earning statement issued by Party Poker, it has taken a hit in its poker earnings. In what is a reflection of the growth of other poker rooms in the recent times, the number one poker room of the past has been fast loosing out.
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The earnings from Poker for quarter three are down to £43.2 million, which is about 15% decline.However, this does not take into full consideration the impact of the recent launch of a new version of its Poker Client which is getting rave reviews from existing players and attracting new players.
This coupled with the latest promotions launched by Party Poker in the 4th quarter, including the $2 Million King of the Table promotion should see the numbers getting better int the ongoing quarter.
Party Poker is also sponsoring the popular TV series, Party Poker Premier League III which is currently going on in London.
It is trying hard to regain its position in the online poker market and is also hopeful with the new Obama regime coming in USA, poker might again get welcomed in the biggest market.
On the other hand, Party Gaming's other businesses are doing great. According to Company CEO, Jim Ryan, the company is preparing for a possible "transfromational acquistion" in future owing to the large cash reserves Party Gaming is currently holding.
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