Party Poker Exec Sees Return to US in “Not Too Distant Future”

In a statement related to an annual earnings report released yesterday, Party Poker finance director Martin Weigold said that he felt “reasonably optimistic” about the chances of the US market reopening to sites such as Party in the “not too distant future”.

Weigold cited legislation by Barney Frank as “an important first step” in the process of re-entry to the US market.

The annual earnings report showed that PartyGaming enjoyed a small growth in pre-tax profit in 2008, a result of cost-cutting measures and continued sales growth from continuing operations. Additionally, PartyGaming CEO Jim Ryan offered the following insights into PartyGaming’s 2009 performance:

“In the 5 weeks ended 4 February 2009, average gross daily revenue was $1,442,900. In poker, new player sign-ups increased to an average of 1,494 per day, and there were on average 51,000 active players per day generating average gross daily poker revenue of $756,700. In casino, gross revenue was $597,200 per day. In sports betting gross win per day was $75,700 and in bingo, average gross daily revenue was $13,200.

In the 4 weeks ended 4 March 2009, average gross daily revenue was $1,536,200. In poker, new player sign-ups averaged 1,550 per day and there were on average 51,100 active players per day, generating average gross daily revenue of $738,500. In casino, average gross daily revenue was $662,500, in sports betting, average gross win per day was $123,000 while in bingo it was $12,200.”