PartyGaming Still in Recovery From the UIGEA

PartyPoker, owned and operated by online gaming giant PartyGaming, is still $2 million shy from its net average revenues prior to the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the United States.

Even as PartyGaming announced that it is recovering from the shock of pulling its operations from the US, they still have a long way to go before they can match their revenues from the lucrative US market.

On October 20th, PartyGaming announced that its net daily revenues from PartyPoker averaged $2.7 million a day. However, after PartyGaming stopped its US operations, the revenues plummeted to $640,000 a day. Currently, it reports an average of $721,000 a day.

As a result of the implementation of the UIGEA in the US, PartyGaming was forced to make major changes in the company. 41% of the workforce, 945 workers were laid-off as their jobs were eliminated.

January 16, 2007
Pauline Davis