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Tuesday, December 22, 2009

Monday, December 21, 2009

Virgin Games casino in new online promotions - December 2009

London, December 2009 – Virgin Games are delighted to announce the launch of a series of new promotions, offering incentives for customers to play their range of casino game products.

These include deposit bonuses up to the value of £50 on Mondays and Tuesdays, available on slots and blackjack games respectively. On Wednesday, customers will be offered 20 per cent cash back on all losses, while on Thursday, players can win up to 100 per cent deposit bonus up to the value of £100 on all slot games. These promotions are the latest in a series of incentives which Virgin are offering to players, in a bid to become the web’s favourite online gaming site.

Virgin Games was launched in June 2004 and includes Casino, Bingo and Poker sections. The site includes a number of branded games from popular entertainment and television franchises such as the X-Factor and Monopoly. In addition to substantial cash prizes, gamers can earn V Points, which can be redeemed against a whole host of Virgin products, with everything from holidays to jewellery.

The Guernsey-based website is a fully-owned subsidiary of Virgin and adopts the company’s ethos of having fun in that ‘unique Virgin way.’ The group is fully committed to ethical and responsible gaming policies, with an honest and fair approach, as well as a secure 128 bit SSL encryption for complete safety and peace and mind.

A spokesperson for the Virgin Games commented on these new casino promotions by saying:

"We are committed to offering our customers the very best gaming experience, with an unrivalled bonus structure to reward our most loyal players. These promotions compliment a range of offers and new products we are constantly adding, in our bid to become the very best online gaming site."

To find out more about these and other special offers, visit: VirginGames.com

Virgin Games launched in June 2004 and has quickly established itself as one of the leading gaming websites in the UK. Virgin Games comprises four distinct offerings:

Virgin Casino, part of the Wagerworks network, brings consumers classic casino offerings like blackjack and roulette, as well as great feature slots like Monopoly, Cluedo, Dungeons and Dragons Fortress of Fortunes™ and the highly popular MegaJackpots progressive games, with a seeding value of £1,500,000

Virgin Poker, part of the Boss Media network, offers a huge array of games and content for beginners through to experienced pros – as well as the most generous loyalty scheme in the industry

Virgin Bingo, part of the Virtue Fusion network, offers cash prizes worth thousands of pounds in the progressive jackpots, as well as Virgin prize bingo and a range of unique Virgin Games bingo games

*Sorry, no U.S or Australian players. Please see World Casino Directory.

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Virgin Casino Gets Super Hero Slot Games, by Greg Tingle - December 2009

Virgin Casino and Virgin Bingo see new games rolled out thanks to a deal signed with giant software provider, Cryptologic.

Cryptologic's popular The Hulk, Spider-Man and Fantastic Four have leapt into action at Richard Branson's Virgin Games operation.

History buffs will be interested to know that it was living legend, Stan Lee, who was a driving force in developing many of the Marvel super hero characters over the decades. Lee also appears in Marvel motion pictures from time to time, usually in cameo roles.

"Big brands drive player popularity and that is why Cryptologic is excited to launch a game based on Superman, one of the most iconic brands of the entertainment world," said the President and CEO of Cryptologic, Brian Hadfield.

Other new games to be found at Virgin Casino include NextGen Gaming's Blankety Blank and The Price is Right, Cryptologic's Cubis, Virtue Fusion's Dynamite Digger and Ash Gaming's Rubik's Slot.

Virgin Games offer a rewards system, V*Points, which is regarded as one of the industry top reward programs.

2010 will see more new games released at Virgin, and be on the lookout for more Marvel hero themed movies to hit the cinema including Thor and Iron-Man II, and don't be surprised to see more super hero themed games to hit Virgin in the coming months. As Stan Lee says, EXCELSIOR!

Play for free or play for money at Richard Branson's Virgin Games.

*Sorry, no U.S or Australian players. See World Casino Directory.

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PartyGaming and Sportingbet both upbeat, but market awaits deals - 18th December 2009

PartyGaming has unveiled an upbeat trading statement, but said little about what investors are really keen on - its thoughts on consolidation in the online gaming sector.

The company was recently said to be in talks with Austria's Bwin about a merger, although Bwin subsequently played this down. Today PartyGaming annouced it had set up a new £35m loan which would be used for "general corporate purposes including mergers and aquisitions." But that is not enough cash to cover the sort of deals investors had in mind, ie the Bwins of this world.

On the business front the company said current trading was solid, and earnings for the year were expected to be slightly ahead of expectations. Its shares have edged down 0.3p to 258.3p but Investec analyst Matthew Gerard issued a buy note and said:

Albeit brief, this is an encouraging update. We expect the increasing focus on casino and bingo to drive robust revenue and earnings growth in what remains a structurally attractive sector. This supports the current 15 times 2010 PE valuation, whilst consolidation and regulatory change-driven growth offers more material upside, in our view.

KBC Peel Hunt's Nick Batram was also positive:

Our buy stance is based upon the view that Party is an attractive asset in a global market with exciting growth and consolidation prospects. Poker has stabilised, casino and sportsbook are growing and new markets and B2B present further opportunities. Assuming stable currencies the group should return to earnings growth in 2010. A prospective PE of 16.1 times doesn't look expensive given the opportunity for growth and corporate activity.

Elsewhere Sportingbet shares climbed 1.25p to 66.25p after an annual meeting statement stating that trading was in line and the company was confident of a satisfactory outcome for the year. Oriel Securities analyst Jeffrey Harwood said:

Sportingbet indicates that the main trends seen in the first quarter (reported on 25 November) have continued. The group is benefiting from its focus on European sports betting where revenues were 56% ahead in the first quarter.

Following some recent weakness the shares look attractive on a prospective PE of 10 times. Shares moving up to the main market in early 2010.

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Sunday, December 20, 2009

PartyGaming Trading Statement - 18th December 2009

PartyGaming Plc

("PartyGaming" and, together with its subsidiaries, the "Group")

Pre-Close Trading Update

*Solid current trading and return to sequential revenue growth for all product verticals

*Revenue in-line with the Board's expectations while Clean EBITDA for the year to 31 December 2009 is expected to be slightly ahead of the Board's expectations

*Prospective licensing and regulation in Italy and France offers exciting medium to long term revenue potential

*New £35m bank facility

PartyGaming Plc, the world's leading listed online gaming company, announces that trading since the end of September 2009 has been solid. While revenue is expected to be in line with the Board's expectations, Clean EBITDA for the year to 31 December 2009 is expected to be slightly ahead of the Board's expectations.

Whilst the timing and details of new regulations to be introduced in Italy and France in 2010 have yet to be clarified, we believe these markets represent significant potential revenue opportunities for the Group in the medium to long term. Leveraging our scale and brand strength, we plan to take full advantage of these opportunities through the launch of B2B services with strong local brands and also through our existing brands. Combining the strength of the PartyPoker brand with the trade and assets of the World Poker Tour that we acquired in November 2009, we believe we are also well-positioned should the US government elect to regulate online poker in the US.

Commenting on today's announcement, Jim Ryan, Chief Executive Officer, said:

"As indicated at the time of our third quarter key performance indicators, our business has continued to perform well across the board during the fourth quarter with a return to net revenue growth across all four of our key product verticals.

"Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues versus the previous quarter, despite continued competition from illegal US-facing sites and the difficult macroeconomic climate.

Our casino business has also continued to perform well on the back of new games launched on PartyCasino as well as higher jackpots, with the most recent Mega Gold jackpot paying out close to $5.0m to the lucky winner earlier this month.

"Bingo continues to show substantial growth on the back of the Cashcade acquisition in July 2009. In sports betting, our gross win margin has benefited from a good run of sporting results and the introduction of improved risk management tools.

"Despite the challenges presented by the prevailing macroeconomic environment, we have not been distracted from the execution of our strategic plan. With the prospect of a number of new and large regulated markets in front of us, an expanding portfolio of B2B customers and a return to growth in our core business, we remain confident about the Group's prospects."

New bank facility

The Group, via its UK subsidiary, has entered into a £35m three year term loan. The loan will be used for general corporate purposes including mergers and acquisitions. The all-in cost of the loan is anticipated to be approximately 6% per annum based on current interest rates.

The Group's fourth quarter KPIs will be announced on 3 February 2010.

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Saturday, December 19, 2009

Party Gaming 2009 Revenue in Line with Management Expectations, by Dan Cypra - 18th December 2009

In a trading update released to the London Stock Exchange on Friday, Party Gaming, the parent company of PartyPoker, announced that its revenue was in line with Board expectations, while Clean EBITDA would likely surpass estimates.

Party Gaming is now anxiously awaiting legislative developments in three key markets: France, Italy, and the United States. On the latter country, which has been effectively shut off for the publicly traded company since 2006, the statement released by Party Gaming concludes, “Combining the strength of the PartyPoker brand with the trade and assets of the World Poker Tour that we acquired in November 2009, we believe we are well-positioned should the U.S. government elect to regulate online poker.”

As it stands now in the United States, the primary hope for legalization and regulation of the game is Congressman Barney Frank’s (D-MA) Internet Gambling Regulation, Consumer Protection, and Enforcement Act, HR 2267. The measure outlines a framework whereby licensed online gaming companies can solicit real money action from U.S. customers. A companion bill introduced by Congressman Jim McDermott (D-WA), HR 2268, taxes companies 2% of deposits and could raise as much as $40 billion in revenue over a ten-year period. HR 2267 boasts 63 co-sponsors, while HR 2268 has four.

Party Gaming’s attention seems to be focused squarely on poker given its recent acquisition of the World Poker Tour (WPT), a longtime industry staple. Party Gaming CEO Jim Ryan commented, "Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues versus the previous quarter, despite continued competition from illegal U.S.-facing sites and the difficult macroeconomic climate.”

PartyPoker introduced its Monthly Million poker tournament earlier this year, a $640 buy-in event held on the first Sunday of every month. In December, PartyPoker member “ireadursoul” took down the Monthly Million to the tune of $200,000.

Also announced in Friday’s trading update was that Party Gaming had taken out a £35 million three-year loan to be applied towards mergers and acquisitions. Discussion of a possible merger between Party Gaming and bwin has dominated poker news headlines this week, although the company has not confirmed that any deal is imminent. bwin is also a publicly traded company and can be found on the Vienna Stock Exchange.

Shares of Party Gaming closed the week trading at 254 pence in London, down 4.6 pence on the day, or 1.8%. In the beginning of November, shares of Party Gaming’s stock (PRTY) had sunk as low as 214 pence before rebounding. In January, amid the worldwide economic doom and gloom, Party Gaming was fetching a lowly 157 pence a share.

Also helping to keep revenues afloat in recent months has been Party Gaming’s Bingo and Casino arms. PartyBingo’s business was boosted by the acquisition of Cashcade back in July, while a $5 million jackpot payout in the casino earlier this month drew a considerable amount of attention.

Ryan remained optimistic that a strong 2010 would be in store for the company’s investors: "Despite the challenges presented by the prevailing macroeconomic environment, we have not been distracted from the execution of our strategic plan. With the prospect of a number of new and large regulated markets in front of us, an expanding portfolio of B2B customers, and a return to growth in our core business, we remain confident about the Group's prospects."

Read the entire Party Gaming Trading Statement to the London Stock Exchange. (Credit: Poker News Daily)

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Website Of The Month: PartyCasino.com

Play for free or play for money at PartyCasino.com

Promotions include PartyPoints, Palladium Lounge, Cash Machine and Slotastic Sundays.

Play for the Super Hero Jackpot and Marvel Hero Jackpot.

Thor can be played now, before the movie is due to be released in 2010.

PartyCasino is owned by PartyGaming, established for over a decade and listed on the London Stock Exchange.

PartyCasino has won numerous industry awards including both the eGaming Review "Operator Of The Year" and the Casino News Media "Online Casino of the Month".

*Sorry, no U.S players. PartyCasino is hopeful of being available to U.S players in 2010.
*Australian players welcome.
*Canadian players welcome.
*Italian players welcome.
*South American / Spanish players welcome.
*South African players welcome.
*Multi language and multi currency options.
*Apply at PartyCasino.com for full list and verification.
*Listed on the London Stock Exchange and owned by PartyGaming.

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Tuesday, December 22, 2009