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Online gambler Party Gaming sees revenue rise

Betting firm Party Gaming posted a...

Betting firm Party Gaming posted a 9% increase in revenue for the third quarter of 2010 as it presses ahead with the €2bn merger with Austrian operator Bwin.

The deal, which was announced in the summer and is due to complete by March 2011, will create the largest gambling firm in the world, combining Party's portfolio which includes poker and casino online and Bwin's core competency, which is sports betting.

Total revenue for the group reached €85.3m (£78.3m). The company's poker site has seen a 5% decrease in revenue over the period due to increasing competition from online poker websites PokerStars and Full Tilt. The two companies have been expanding significantly in terms of European market share.

However, Party Gaming's other product lines of bingo, sports and casino performed well during the third quarter. Casino revenue rose by 2% to €34.9m (£31m), bingo saw a 36% increase to €13.1m.

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