According to Guardian.co.uk, PartyGaming, home of PartyPoker and other online gambling locales, such as Party Bingo, and Party Casino reported losses during the last six months alone amounting toÂ a little more than $47 Million, due to the United States online gambling ban. The ban which isÂ better known as the Universal Internet Gambling Enforcement Act (UIGEA). Forty Seven Million Dollars, that represents about a 70% dip in what used to be the biggest online poker room in the worlds profits.
According to Card Player magazine, the very same poker site made a profit of 320.. and a half.. million dollars for the same time frame in 2006.
PartyGaming CEO Mitch Garber is still optimistic though, reminding us that,Â “The Group has delivered a solid performance in the first half of 2007 with excellent top line growth and new player sign-ups. We continue to execute our strategy through growing our player base, localization of the customer offer, and broadening our product suite.”
Furthermore, PartyPoker is looking to the future, Garber goes onto explain, “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. While the important fourth quarter lies ahead, the Board remains confident about the Groupâ€™s prospects for the full year.”