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Doubting the Online Casinos

There are some in the online casinos gambling industry who are a bit skeptical about Party Gaming’s positive outlook the year-end financial stability and total revenues and profits. A London based analyst, Paul Leyland, even went so far as to remark on the company’s trading as “disappointing” and he notes that the online casinos performance thus far this year could very well lead to a disappointing year. Leyland’s remarks are in stark contrast to Party Gaming CEO Mitch Garber’s statement accompamying the first quarter report which was largely positive and spoke of an above average year for the company in terms of profit and gross revenue.

Garber, and the first quarter report in fact, attributes much of the company’s current financial stablility to the performance of the company’s online casinos product. Party Gaming has several interests and products in markets all over the world, but the basic casino platform showed the most growth and brought in notable revenues for the beginning of the year compared to figures for 2007.

Leyland though is skeptical about how the company is spinning this “seasonally quiet period,” as Garber called it. The online casinos gambling company’s second quarter is off to a sluggish start, and Leyland notes, "They are down in absolute terms in the beginning of the second quarter, which means that their full-year revenue is going to look like a bit of a struggle.” But at the same time, although Leyland had some insight into what the Party Gaming online casino gambling site really has in store for it for the full year Leyland has expressed a level of confidence in the company’s stock continuing to do well.