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This morning PartyGaming announced that its daily online poker revenues had recovered to $721,000 (₤366,000) after falling to a daily low of around $637,000 after the October online gambling ban in the United States.
A PartyGaming spokesman told Reuters, “The overall yield per active player day has been affected by the loss of higher-raking players, but this has been partially mitigated by strong levels of new player sign-ups that have averaged over 1,400 per day.” The group now takes 67 percent of its revenues from Europe, the Middle East and Africa, and 27 percent from Canada and Central and South America.
Immediately following the U.S. ban, PartyGaming cut 945 jobs, or 41 percent of its workforce. The company said that excluding sports betting, overall daily revenue during the four weeks to December 11 averaged approximately $921,000 and overall player volumes have averaged about 52,000 active players a day. In sports betting, its recently acquired Gamebookers unit averaged daily gross win of approximately $65,000 since it was bought in August.
The overall picture remains healthy. At 30 November, PartyGaming had total net cash reserves of over $46 million. Results for the year ending 31 December 2006 will be available on 1 March 2007.
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