PartyGaming is a year old as a listed company and things are smoothing out after a rocky beginning on the London Stock Exchange. This is due in part to the extremely favorable financial gains in first quarter revenue and a record number of new player registrations at their sites.
The fast growing company has now added a new product to their stable, PartyGammon. With the recent popularity Backgammon has been enjoying the last few years, this addition is welcomed by millions of backgammon players world wide. PartyGammon joins PartyPoker offering free online games to backgammon and poker players.
The financial forecast for PartyGaming predicts their earnings will reflect a 50% earnings growth for this year. So why is the stock price so low? Two possible reasons have been discussed. First, the slated gambling legislation currently being debated in the U.S.Congress. It’s been estimated that over 80% of PartyGaming’s poker players live in the U.S. Until the legality of online gambling has been defined, investors maintain a ‘wait and see’ stance.
The second reason is the loss of PartyGaming’s top management. To complicate matters, the departed executives have been dumping their shares, leading investors to take an ‘approach with caution’ attitude.
Microgaming, a leading online casino provider, has announced exciting content in January! The first part of the month is reserved for slots such as The Bandit and the Baron, King Carrot, Buffalo Ways, Bank Vault, and Dr. Wildshock Mad Loot Lab.
What Titles We Can Expect in the First Half
The Swedish-based provider, Lady Luck Games, will acquire UK-based studio, Revolver Gaming. After inking an exclusive letter of intent, both brands agreed on the purchase price of €750,000 and approximately 4 million newly issued shares of Lady Lucky Games. Revolver was founded in 2010 and has been developing mostly online slots, however, it also produced several online bingo games. Its most popular games are Reign of Gnomes, Good Fishes, Lotto Lucky, Robin Hood, and more.
Microgaming has agreed to sell its Quickfire distribution business and online games to young company, Games Global (GG). The deal, announced as a "historic sale," will enable GG to obtain the international distribution rights for exclusive Microgaming online slots and progressive jackpots. Following the sale, the provider says it will continue to supply several customers with its gaming platform while they will be looking ahead to the future and developing sports betting technology.