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.
After recently increasing its presence in Brazil, Pragmatic Play has taken an "important step" in the Greek market after receiving the A1 supplier license issued by Greek Gambling Authority. According to the developer, this historic breakthrough allows the Gibraltar-based company to continue supplying its premium slots and other casino games across the Southeast European market.
SoftSwiss is gearing up to further expand its casino offering through a collaboration with the fledgling Brazilian studio, Pipa Games. The young studio was established in 2020 and is concentrated on developing live casino content which is designed exclusively for the Brazilian iGaming market. Pipa comes with huge potential, and the company has been constantly working to develop a strong portfolio of attractive products.
Yggdrasil intends to significantly expand access to its gaming library through a collaboration with well-known online casino and sports betting provider, Betway. According to the agreement, the supplier will provide its portfolio to the operator across various regulated markets, including the United Kingdom, Germany, which recently opened the market to licensed online casinos.