Online gambling group PartyGaming delivered total revenue of $112.7m (2008: $117.7m) in the three months to 30 September 2009.
This performance represented an increase of 11% over the previous quarter that was largely due to a maiden contribution from Cashcade following its acquisition on 23 July 2009. Excluding Cashcade, revenue was down 4% versus the previous quarter.
Specifically, in the case of bingo, its revenue increased sharply to $13.8m (2008: $2.0m) reflecting the inclusion of Cashcade for the first time.
The addition of Cashcade transformed group’s presence in the $1.5 billion online bingo market and was the driver behind the substantial increase in bingo revenue, said Jim Ryan, chief executive officer of the group.
PartyGaming managed 208,000 new player sign-ups, a 51% increase over the same period the previous year last year.
The company mentioned that the launch of new marketing campaigns for both PartyPoker and PartyCasino under the “Feel It” tag line helped the company in increasing new player sign-ups as well as the number of active player days and unique active players.
The number of consolidated active player days and unique active players grew by 24% and 35% respectively versus the prior year and both increased versus the previous quarter, helped by the acquisition of Cashcade.
