Online Gambling company Party Gaming increase profit further
PartyGaming, the company behind the powerhouse poker site Party Poker, are in a buoyant mood following another increase in profits over the last nine months. The poker giants saw an 11% rise to $112.7 million in their profits over the third quarter of this year, even though the summer period is usually the slowest for the industry.
This boom has given the company hope that their total yearly profits will show a significant increase over last year’s. PartyGaming’s poker arm has launched many new initiatives over the past year and Chief Executive Jim Ryan has said the site has, “attracted new players” and that Party Poker are “encouraged by the increased player traffic during September.”
This recent upswing in gaming revenue is another sure sign that the industry as a whole is recovering from the economic effects of the last year. Indeed, other major poker sites including FullTilt and Pokerstars have also enjoyed continued success in the market, posting sizeable profits despite a drop in the amount of money people are willing to spend on non-essential activities.
Overall, the security of online poker and poker in general seems to be safe and with most countries starting to move out of recession the outlook for 2010 looks to be bright.