The UK-trading online gambling operator, PartyGaming announced this week that its revenues since April 28th dropped a slightly below forecasts. The London stock exchange reacted sharply to the news and share prices for the company dropped by almost 5%.
PartyGaming attributed the reasons to a number of factors, namely stronger competition in the poker industry, which has left the company to battle it out against those who are still accepting bets from US customers. PartyGaming said that it is struggling to offer bonuses and promotions the size that is seen on the current European online poker circuit, simply because it cannot attract the US players who make up half the industry.
On the flip side, PartyGaming’s casino and bingo offerings were doing well because of the release of two new slots games and the expansion of its bingo products in the UK market.