Feeds

Poker shares dip

Market won't bet on cards...

Secure remote control for conventional and virtual desktops

PartyGaming - the company behind the world's largest poker website - saw its shares dip sharply this morning despite posting an 81 per cent increase in turnover. Investors are worried that online gambling will not continue its current rapid growth.

The company, which floated in June, brought in $437m in the six months to 30 June 2005. Poker brought in $412m of this while the company's casino website made $25.4m. Ebitda before share option and IPO costs was up 70 per cent to $258m.

PartyGaming said in a statement that it expects growth to slow. Operating margins also fell as the company began to face competition in some countries.

The news pushed PartyGaming shares lower in pre-market trading. At the time of writing shares on the London Stock Exchange were down 23 per cent to 120p.

The other cloud hanging over the company is possible legal restrictions, especially in the US. Revenues from outside the US make 14 per cent of the total, up from 12 per cent last year. The company said it continued to monitor the regulatory environment particularly a possible bill before the US Senate and US reaction to recent WTO rulings calling for the US to open up to off-shore internet gambling operations.

Secure remote control for conventional and virtual desktops

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.