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Party Gaming has Recovered

Positive third quarter results from Party Gaming and other EU based online casino companies is an indication that internet gambling companies are finally recovering from the devastation caused by the U.S. Unlawful Internet Gambling Enforcement Act. The UIGEA limited the financial transactions between U.S. players and the online casinos and wiped out a huge percentage of the internet gambling market. Companies with a large player base located in the U.S. prior to the UIGEA saw drastic declines in revenue and expanded into new markets in order to counteract the loss in revenue. Also helping increase UK revenues for internet gambling companies are the more liberal UK gambling policies that took effect in September 2007.

The third quarter report indicated that certain divisions within Party Gaming performed better than other areas. The online casinos division was particularly promising with casino operations generating a whopping 158 percent improvement. The sportsbetting division’s income, like the online casino division, reflected the industry-wide growth in the gambling activity with a 91 percent increase within the sportsbetting division.

The positive increases in both online casinos and sportsbetting brought Party Gaming through the third quarter with strong results despite a drop in player signups. But because the third quarter coincided with the traditionally slower summer months, the drop in player signups was anticipated.

Party Gaming’s particularly positive third quarter results are welcome news to many in the online casinos industry and the company’s report indicates anticipation of a promising fourth quarter.