PartyGaming News: Half year report for the six months ended 30 June 2010
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Total revenue up 30% to €181.2m (2009: €139.9m) driven by acquisitions and strong growth in casino and sports betting
Continuing Clean EBITDA* up 14% to €48.1m (2009: €42.3m)
Continuing Basic Clean EPS* of 6.0 € cents (2009: 6.7 € cents); Total Basic Clean EPS of 6.0 € cents (2009: 6.6 € cents)
Transformational Proposed Merger with bwin expected to complete in first quarter 2011
Solid progress in newly regulated markets (France and Italy); Denmark is on-track to open early in 2011
Net cashflow from Continuing operations up 65% to €55.3m (2009: €33.5m) with net cash at 30 June 2010 of €146.8m (2009: €166.7m)
* EBITDA/EPS before the provision for costs associated with the Group’s Non-Prosecution Agreement, reorganisation costs, and before non-cash charges relating to share-based payments (see reconciliation of Clean EBITDA to operating profit (loss) below).
# Operations located physically outside of the US but which relate to US customers that were no longer accepted following the enactment of the UIGEA.
Commenting on today’s results announcement, Jim Ryan, PartyGaming Chief Executive Officer, said:
“We delivered another robust financial performance in the first half and also made great progress in executing our strategy. While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly. Total revenue was up 30% and Clean EBITDA from Continuing Operations was up 14% versus the prior year. As previously announced, Clean EBITDA margins in the first half were slightly lower than expected due to the delayed launch of cash game poker in Italy but we retain our previous full year guidance of approximately 28%, subject to the returns achieved on planned marketing spend in both France and Italy where we are continuing to expand the share of our respective poker networks.
‘‘Our proposed merger with bwin is a transformational opportunity for the Group and we expect that it will provide significant strategic, operational and financial benefits for the shareholders of both companies. Whilst there is much work to do ahead of completion in early 2011, we are excited about the prospects for what will then be the clear market leader in online gaming with strong positions in all key product verticals and territories.”
On current trading and outlook Jim Ryan added:
“Since 30 June 2010, the Group has continued to perform in-line with the Board’s expectations. Seizing a strong position in newly regulated markets is a key focus for us. Our strategy of combining a strong B2C franchise with significant local brands is already proving to be a powerful force as evidenced by our network’s position in French poker. As other markets follow Italy and France, we expect that a limited number of large networks and brands will emerge to become market leaders – we are determined that together PartyGaming/bwin will be one of them. This natural consolidation of the marketplace will accelerate through corporate mergers and acquisitions and as one of the largest players in the sector we remain committed to continue playing an active role. Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Group’s prospects for the rest of the year and beyond.”
Contacts:
PartyGaming Plc +44 (0) 207 337 0100
Peter Reynolds, Director of Corporate Affairs
John Shepherd, Director of Corporate Communications
Interview with Jim Ryan and Martin Weigold
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will be available from 7.00am BST on 6 August 2010 on: http://www.partygaming.com and on http://www.cantos.com.
Analyst meeting, webcast, dial-in and conference call details: 6 August 2010
There will be an analyst meeting for invited UK-based analysts at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT starting at 9.30am BST. There will be a simultaneous webcast and dial-in broadcast of the meeting. To register for the live webcast, please pre-register for access by visiting the Group website (www.partygaming.com). Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
Title PartyGaming Interim Results
9.30 am Meeting starts
A recording of the meeting will be available for a period of seven days from 6 August 2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 9050397#
About PartyGaming Plc
The Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year ended 31 December 2009, PartyGaming’s Continuing operations generated revenue of €310.1m and Clean EBITDA of €93.8m.
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Friday, August 6, 2010
Wednesday, August 4, 2010
PartyGaming to Report 2010 Half Year Results Friday
PartyGaming is all the rage these days with anticipation that the U.S. market could ultimately open up and with the announcement of its merger with Austria’s Bwin to create the world’s largest online gambling enterprise.
On Friday August 6 at 9:20 am London time, the company will announce its results for the first 6 months of 2010.
The Group will host a meeting for invited UK-based analysts on the day of the results and there will be a simultaneous webcast and dial-in broadcast of the meeting.
To register for the live webcast, please pre-register for access by visiting the Group’s website www.partygaming.com. Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later on the day.
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will also be available from 7.00am BST on Friday 6 August at: http://www.partygaming.com and at http://www.cantos.com
Dial-in details to listen to the analyst presentation: Friday 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
9.30 am Meeting starts
(Credit: Gambling911)
Media Man Profiles
PartyCasino.com
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PartyGaming
On Friday August 6 at 9:20 am London time, the company will announce its results for the first 6 months of 2010.
The Group will host a meeting for invited UK-based analysts on the day of the results and there will be a simultaneous webcast and dial-in broadcast of the meeting.
To register for the live webcast, please pre-register for access by visiting the Group’s website www.partygaming.com. Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later on the day.
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will also be available from 7.00am BST on Friday 6 August at: http://www.partygaming.com and at http://www.cantos.com
Dial-in details to listen to the analyst presentation: Friday 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
9.30 am Meeting starts
(Credit: Gambling911)
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Thursday, July 29, 2010
PartyGaming News: Proposed Merger of PartyGaming Plc (‘PartyGaming’) and bwin Interactive Entertainment AG (‘bwin’)
PartyGaming News: Proposed Merger of PartyGaming Plc (‘PartyGaming’) and bwin Interactive Entertainment AG (‘bwin’)
Highlights
Creation of the world’s largest listed online gaming business
Market leading positions in all key verticals of online poker, sports betting, casino and games (in particular bingo)
Pro forma 2009 net gaming revenue of €682 million and EBITDA of €196 million, before synergies
Estimated annualised synergies of approximately €55 million
Proposed Merger is expected to be significantly earnings enhancing for both companies pre-amortisation
Enlarged Group to be owned approximately 48.36 per cent. and 51.64 per cent. by PartyGaming and bwin shareholders respectively and will be listed on the London Stock Exchange
Jim Ryan and Norbert Teufelberger to be Co-Chief Executive Officers of the Enlarged Group
Irrevocable undertakings in support of the Proposed Merger have been received from shareholders currently holding 28.5 per cent. and 14.4 per cent. of PartyGaming and bwin’s existing issued share capital respectively
Commenting on the Proposed Merger, Jim Ryan, Chief Executive Officer of PartyGaming said:
"This is a transformational opportunity for both our companies to create the world’s largest listed online gaming business. With market-leading positions in poker, sports betting, casino and games (in particular bingo), the Enlarged Group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team."
Commenting on the Proposed Merger, Norbert Teufelberger, Co-Chief Executive Officer of bwin said:
"This merger of equals makes great strategic, operational and financial sense. We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry."
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Highlights
Creation of the world’s largest listed online gaming business
Market leading positions in all key verticals of online poker, sports betting, casino and games (in particular bingo)
Pro forma 2009 net gaming revenue of €682 million and EBITDA of €196 million, before synergies
Estimated annualised synergies of approximately €55 million
Proposed Merger is expected to be significantly earnings enhancing for both companies pre-amortisation
Enlarged Group to be owned approximately 48.36 per cent. and 51.64 per cent. by PartyGaming and bwin shareholders respectively and will be listed on the London Stock Exchange
Jim Ryan and Norbert Teufelberger to be Co-Chief Executive Officers of the Enlarged Group
Irrevocable undertakings in support of the Proposed Merger have been received from shareholders currently holding 28.5 per cent. and 14.4 per cent. of PartyGaming and bwin’s existing issued share capital respectively
Commenting on the Proposed Merger, Jim Ryan, Chief Executive Officer of PartyGaming said:
"This is a transformational opportunity for both our companies to create the world’s largest listed online gaming business. With market-leading positions in poker, sports betting, casino and games (in particular bingo), the Enlarged Group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team."
Commenting on the Proposed Merger, Norbert Teufelberger, Co-Chief Executive Officer of bwin said:
"This merger of equals makes great strategic, operational and financial sense. We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry."
Media Man Profiles
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Tuesday, July 27, 2010
Rocky Slot Game Hits PartyGaming - Noble Casino
Rocky Slot Game Hits PartyGaming - Noble Casino
The new Rocky slot game has become Playtech’s most sought after title as online gaming fans flock to box as Rocky Balboa.
The great features of Playtech’s video slot have made the game one of the most popular of all time. Rocky Slots sets the pace for PartyGaming and Playtech, with Pink Panther soon to follow.
Rocky Slots traces the fortunes of the kind hearted south paw Rocky Balboa from the 1976 film starring Sylvester Stallone. The game has fast and well designed features and game play as well as a pounding soundtrack to match...this really gets the excitement and adrenaline flowing! Bonus features include a special Knockout Bonus round where players can pick Rocky’s opponents, watch a ten round boxing match and win big money.
Playtech have upped the ante with Rocky Slots as the game features more advanced graphics, better sound and more sophisticated detail than other similar games. This makes Rocky Slots an absolute knock out to play.
The spinning reels sound like a punch bag to make players feel that they are hearing Rocky train in his favourite Philadelphia gym. Players need to spell out ROCKY on the 5 reels in order to receive an instant 5x total bet payout. And if you manage to achieve this in the free spin rounds you will receive a massive 10x total bet payout!
Perhaps the more impressive feature of the Rocky Slots game from Playtech is the Knockout Bonus Round. This is where players choose from three prize fights to spar against Rocky in a ten round match – including the famous film world champion Apollo Creed. The player watches the stunning fight from a front line seat, featuring real footage from the fight scenes in the film.
During the Knockout Bonus Round players have the chance of winning up to a 30x total bet payout if Rocky manages to knock his opponent out in a fast enough time. Go Rocky!
PartyGaming also offer PartyCasino.com which offers dozens more movie and TV themed slot games, as well as other online casino games that can be played for free or played for money.
PartyGaming was established in 1997 and is listed on the London Stock Exchange.
Websites
Noble Casino
Rocky slot website
Profiles
Rocky
Rambo
Sylvester Stallone
Playtech
PartyCasino.com
PartyGaming
The new Rocky slot game has become Playtech’s most sought after title as online gaming fans flock to box as Rocky Balboa.
The great features of Playtech’s video slot have made the game one of the most popular of all time. Rocky Slots sets the pace for PartyGaming and Playtech, with Pink Panther soon to follow.
Rocky Slots traces the fortunes of the kind hearted south paw Rocky Balboa from the 1976 film starring Sylvester Stallone. The game has fast and well designed features and game play as well as a pounding soundtrack to match...this really gets the excitement and adrenaline flowing! Bonus features include a special Knockout Bonus round where players can pick Rocky’s opponents, watch a ten round boxing match and win big money.
Playtech have upped the ante with Rocky Slots as the game features more advanced graphics, better sound and more sophisticated detail than other similar games. This makes Rocky Slots an absolute knock out to play.
The spinning reels sound like a punch bag to make players feel that they are hearing Rocky train in his favourite Philadelphia gym. Players need to spell out ROCKY on the 5 reels in order to receive an instant 5x total bet payout. And if you manage to achieve this in the free spin rounds you will receive a massive 10x total bet payout!
Perhaps the more impressive feature of the Rocky Slots game from Playtech is the Knockout Bonus Round. This is where players choose from three prize fights to spar against Rocky in a ten round match – including the famous film world champion Apollo Creed. The player watches the stunning fight from a front line seat, featuring real footage from the fight scenes in the film.
During the Knockout Bonus Round players have the chance of winning up to a 30x total bet payout if Rocky manages to knock his opponent out in a fast enough time. Go Rocky!
PartyGaming also offer PartyCasino.com which offers dozens more movie and TV themed slot games, as well as other online casino games that can be played for free or played for money.
PartyGaming was established in 1997 and is listed on the London Stock Exchange.
Websites
Noble Casino
Rocky slot website
Profiles
Rocky
Rambo
Sylvester Stallone
Playtech
PartyCasino.com
PartyGaming
Saturday, July 24, 2010
Palladium Slot Launch Party at PartyCasino
Win a $5,000 weekend for two with the Palladium Slot Launch Party at PartyCasino.com
The launch party is running now through 23:59 ET, July 31st and offers massive payouts – up to $1.8 million per spin – to welcome it in style PartyCasino.com is running a special leaderboard promotion.
You could win a dream weekend holiday worth $5,000 to the destination of your choice when you take part in the Palladium Slot Launch Party.
There are five prize trips, each one including: Luxury hotel stay (up to $1,500), Airfares (up to $2,000) and $1,500 spending money.
So whether you want to shop ‘til you drop in London or New York, soak up the culture in Rome or Barcelona, or simply relax on a beach in the south of France, give the Palladium slot a spin and you could be on the plane to your dream destination.
For your chance to win one of these five amazing packages all you have to is collect as many points as you can when you play the exclusive new Palladium slot game from now through 23:59 ET, July 31st.
Every point you collect while playing the Palladium slot during this period gets you onto the Palladium Slot Launch Party leader board. The 50 players at the end of the promotion will win a prize with the top five players claiming the holiday packages.
The Palladium slot game is exclusively for VIPs and offers massive payouts. This extravagant slot also features more paylines and allows higher betting amounts for high-rollers to enjoy a slot experience like no other.
Website
PartyCasino.com
Profiles
Palladium Slot
Palladium Lounge
PartyCasino.com Slots
PartyCasino.com New Games
PartyCasino.com
PartyGaming
PartyCasino.com and PartyGaming has won numerous awards and commendations including from Media Man, Casino News Media, Global Gaming Directory and eGaming Review.
The launch party is running now through 23:59 ET, July 31st and offers massive payouts – up to $1.8 million per spin – to welcome it in style PartyCasino.com is running a special leaderboard promotion.
You could win a dream weekend holiday worth $5,000 to the destination of your choice when you take part in the Palladium Slot Launch Party.
There are five prize trips, each one including: Luxury hotel stay (up to $1,500), Airfares (up to $2,000) and $1,500 spending money.
So whether you want to shop ‘til you drop in London or New York, soak up the culture in Rome or Barcelona, or simply relax on a beach in the south of France, give the Palladium slot a spin and you could be on the plane to your dream destination.
For your chance to win one of these five amazing packages all you have to is collect as many points as you can when you play the exclusive new Palladium slot game from now through 23:59 ET, July 31st.
Every point you collect while playing the Palladium slot during this period gets you onto the Palladium Slot Launch Party leader board. The 50 players at the end of the promotion will win a prize with the top five players claiming the holiday packages.
The Palladium slot game is exclusively for VIPs and offers massive payouts. This extravagant slot also features more paylines and allows higher betting amounts for high-rollers to enjoy a slot experience like no other.
Website
PartyCasino.com
Profiles
Palladium Slot
Palladium Lounge
PartyCasino.com Slots
PartyCasino.com New Games
PartyCasino.com
PartyGaming
PartyCasino.com and PartyGaming has won numerous awards and commendations including from Media Man, Casino News Media, Global Gaming Directory and eGaming Review.
Monday, July 19, 2010
PartyCasino: The World's Leading Online Casino; A PartyGaming Company
PartyCasino: The World's Leading Online Casino
New Players get up to $500 sign up bonus at PartyCasino.com
PartyGaming also operates casinos, online poker rooms and bingo through various websites, including PartyCasino.com, PartyPoker.com, PartyBingo.com, WPTCasino.com and WPTPoker.com
PartyCasino is the Group’s most popular casino brand by far although other brands include CasinoKing and CasinoLasVegas.com The Group's casinos offer a huge variety of over 150 games including slots, blackjack, roulette, and video poker. As well as these traditional online casino games, the Group also offers virtual horse and virtual dog racing as well as multi-player blackjack.
Except for casino tournaments, all players place bets against the house, and the outcome is determined by randomly generated results. Wager limits vary from $0.01 to $1,000, depending on the game. Casino revenue represents the net win, being the amount wagered less player winnings and any change in liability of progressive prize pools. Bingo revenue represents player buy-in less prize payouts.
In 2007, the Group’s casino product was substantially improved through a series of software upgrades, the addition of a number of new slot machines and the integration of the acquisitions from EOL and IOG. Casino, which includes bingo games, is the Group’s second largest business segment and in 2007 it generated Continuing revenue of $146.7 million (2006: $51.0 million) and Continuing Clean EBITDA of $43.6 million (2006: $15.9 million).
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Sunday, July 18, 2010
PartyCasino News: Palladium Slot, Octopus's Garden, Sumo, Cleopatra and Monopoly
PartyCasino.com News
New Players Get Up To $500 Sign Up Bonus
Profiles
Palladium Slot
Octopus's Garden
Sumo
Cleopatra
Monopoly
Website
PartyCasino.com
New Players Get Up To $500 Sign Up Bonus
Profiles
Palladium Slot
Octopus's Garden
Sumo
Cleopatra
Monopoly
Website
PartyCasino.com
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