PartyGaming stock rebounds

After hitting an all time low only weeks ago, Party Gaming stock rebounded yesterday on news that the company had met earnings expectations and exceeded targets for real money player growth outside of the US.

The company announced plans for future growth in a statement released by head Mitch Garber: “Over the coming weeks and months we expect to announce a number of further important business alliances with leading companies around the world that will help us to promote and grow our business.” Analysts expect Party to continue to move aggressively in Asia, especially focusing on the huge potential market in China.

Investors were apparently also encouraged by continued talks between PartyGaming and the US Government. “We had voluntarily approached the (U.S.) Department of Justice and we are working toward satisfactory resolution … We continue to move along toward hopefully what will be considered by all a satisfactory resolution,” Garber told investors during a conference call.