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A Bright Light on Online Casinos

Some investors and traders lost a bit in Party Gaming online casino gambling group this week when the company announced its second quarter results, but overall the company is still performing well and should rebound in the stock market as the year progresses. The Q2 report shone a bright light on the company’s online casino gambling operations while other operations performed a bit below expectations. In all though Party Gaming was quick to assert that the soft second quarter results are no indication of full-year figures and that the company is still on target for end-of-year financial expectations.

Party Gaming’s Q2 report was certainly not dismal by any means but the company’s stocks dropped a fast eight percent on release of the Q2 report. The drop in the market values the online casino gambling group at GBP 1.98 billion with a trading value of GBP 234.25. The low performance last quarter was attributed to the company’s internet poker and internet sportsbetting sectors – the online casinos on the other hand performed right in line with expectations. While sportsbetting was down for the first two quarters of the year, the Euro 200 Championships may have boosted the sector out of a slump in the third quarter.

As for the long-range development of the company, everything on that front is still right in line with expectations. Party Gaming announced an exclusive licensing deal with Paramount and will launch a handful of proprietary and popular branded slot games by the end of the year. The company’s online casino sector has performed above expectations throughout Q1 and Q2 and the release of the branded games is expected to keep the spotlight on this sector of Party Gaming’s internet gambling holdings.