The share value of yoha live came crashing down, reaching one third of the original. This happened when PartyGaming hinted that the popularity and craze of online poker was on a downswing. Since its listing this summer, the pre-tax profits of PartyGaming shot up by 21 percent, reaching $186.3, during the six month period, up to June. However, its shares came down to 52 3/4p to 104p as the gambling site said that although it expected good year-on-year growth in the latter part of the year it would be at substantially lower rates than before. Martin Weigold, finance director said that the rate of moderation of growth in the poker market was showing a slow-down earlier than expected. He said that he wasn’t sure whether the trend would be a part of a long-term trend. Analysts feel that another factor could be that casual customers were spending less time and money as compared to seasoned members also known as “whales”. PartyGaming has decided to cut down its advertising and marketing budget and prioritized customer retention.
However, following its listing on the London Stock Exchange in June, PartyGaming has faced increasing competitive pressures in the key US market. The group is seeking to expand into other countries as well as diversifying away from its core poker market.
Full-blown Bid battle Predicted Between Sportingbet and PartyGaming, for Empire Online
The Internet betting group Sportingnet expanded its operations last year with the purchase of Paradise Poker website. According to reports, it is a potential bidder for yet another poker site, Empire online. Forecasters predict an out and out battle in this bid for the site, with ParyGaming, owner of Party Poker sure to make a counterbid. In the midst of all this bidding, Empire’s shares have shot up by 7 percent to 283p. It has reached way above the 270p-a-share level, the point at which Sportingbet was to pitch its offer. The net worth of Empire is over 800m pounds and it has a 9 percent of the internet poker market. Empire has been following a strategy of ‘piggybacking’ to grow. It signs up new gamblers and then directs them to sites like Party Poker and 888.com. It acts as a mediating agent and collects commissions from the game operators.
The strategy has been so successful that Empire is now providing Party Poker with about a third of its new players, according to analysts at investment bank Morgan Stanley. The bank thinks there is a “strong likelihood” of counter-bid from PartyGaming, which will be reluctant to see a major, long-standing partner fall into the hands of a direct rival.
New Television Program on Poker Strategy by FullTiltPoker and Fox Sports
Online Poker site FullTiltPoker.Net teams up with Fox Sports, to telecast a new poker television program. The airing of the new program will begin from September 27th and will be titled – “FullTiltPoker.Net presents: Learn from the Pros”. The program will feature the site’s pool of resident poker pros. Howard Lederer, will be the show host, along with Chris Rose of FSN. The participants on the show will share tips and strategies with regard to the game. A total of 26 half hour episodes will be televised. Though the program will premier on a Tuesday, new episodes will get aired on Sundays at 4.30 p.m that will be repeated on Tuesdays at 8.30 p.m. Chris “Jesus” Feguson, Eric Seidel, Phil Ivey, Jennifer Harman and Clonie Gowen will be some of the pros who will be on the show.
“There is such a thirst out there for all things poker. We want to help players of all abilities take their game to the nest level,” commented Executive Producer Mark Mayer.