Online Casinos Witness PartyGaming Decline

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Online casinos everywhere know the online casino, PartyGaming. Now, they also know what is happening to this famous online casino. According to Reuters, PartyGaming expressed concern over online poker’s popularity with online casinos players. The online casino fears that their recent boom is beginning to decline, causing its shares to fall a quarter. This means 1.3 billion pounds has been knocked off of its market value. ‘Whilst the online gaming market and poker in particular continues to show strong year-on-year growth, the rate of growth is continuing to moderate,’ Chief Executive Richard Segal said. The owner of the three well-known online casinos, Party Poker, Starluck Casino, and Party Bingo, stated that new online casinos and poker players seemed to be spending less money and were less committed to the game and site than the devoted core of players who helped the online casino grow to its 4.6 billion pounds London flotation in June. PartyGaming’s shares fell 21.5% to 123 pence, causing the group’s value to return to 4.9 billion pounds and lose the majority of gains they had earned since the flotation. This caught the company surprise, as did the decreasing amount of online casinos and poker players. The amount these players were spending at poker rooms and online casinos had also declined 7% in the first half. PartyGaming will keep a watchful eye on online casinos and poker players as the year progresses.

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