Market leaders PartyGaming have announced again reported losses. Even with an increase in casino earnings, overall revenue for the company had fallen by $5,000,000 in Quarter 3 of 2009 with a reported $112.7 million for that quarter.
Chief Executive Jim Ryan commented saying that 'Poker remains challenging from a competitive standpoint, but we are encouraged by the increased player traffic during September and into October'.
He continued to comment saying that 'The group's investment in poker is beginning to deliver some forward momentum, in player numbers and gross revenues at least. However, at this stage we continue to believe that the rating is up with events'.
Before UIGEA, the shares in PartyPoker have dropped considerably seeing a 8% loss in Quarter 3, despite the Casino shares being up by 2%.
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