Party Gaming has announced to the media that their company is gearing up for a possible
return to the US poker and gaming market. Party Gaming is home to one of the top online
poker rooms, Party Poker as well as Party Casino, Party Bets, and other gaming properties.

The revenue for Party Poker has been dropping due to the intense competition from online
poker rooms that continue to accept US players. Party Gaming has a rocky relationship
with the US government and they will not be entering the US market until the government
clearly defines what forms of online gambling are legal within the United States, and
begins to issue gaming licenses to online casino operators that wish to enter the market.

Party Gaming has already set up an office in Los Angeles, California to work out issues
with land-based casino operators and other B2B companies. They are preparing to re-enter
the US gaming market once the US government passes legislation to regulate the industry.

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PartyGaming, the parent company of Party Poker and Party Casino has posted its 2009 numbers. The numbers show that PartyGaming had lower revenues and even some losses during the financial crisis. The overall revenue was $446.2 million which is $26.7 million less than the revenue generated in 2008. The poker revenue for 2009 was $77.3 million less ($196.7 million) than 2008′s revenue of $274 million. All other sectors including the casino games, bingo, and sports betting had revenue that actually exceeded PartyGaming’s expectations for 2009.

Industry experts claim that the lower gambling revenue for PartyGaming is a direct result of the settlement that was made with the US government last year, when they agreed to pay $105 million in a non-prosecution agreement with regard to activities in the United States prior to the UIGEA. On the positive side, PartyGaming purchased the World Poker Tour tournament series.

Chief executive officer of Party Gaming, Jim Ryan said, “We delivered a solid performance during 2009 which demonstrated the resilience of a business model that continues to generate strong cashflow, even in the most challenging of circumstances. Leading brands and market position, supported by a strong balance sheet underpin our business strategy. With some acquisitions and major B2B deals already under our belt, we plan to do more in 2010 and I believe we are on course to meet our objective of becoming the world’s most valuable online gaming company.” Now that PartyGaming is in complete compliance with US laws, they should be able to focus all of their efforts on developing their various gaming brands, and increase their global ad budget.

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