PartyGaming Pins Hopes On France As Poker Dips

PartyGaming yesterday outlined high hopes for their entrance to the French market, exemplified by their latest deal with French card club Aviation Club de France, despite an estimated £12m cost for complying with the licensing rules.Unveiling first quarter results the London-listed operator offered strong results in casino, bingo and sports betting marred only by a dip in poker revenues in the face of competition from US-facing rivals, particularly Full Tilt and Pokerstars.

Group revenue was up 27 percent year on year to $127.1m from $100m in 2009, but average daily revenue slipped 2 percent during a strong last quarter of 2009 that was nevertheless boosted by a high roller reinvesting a $5m jackpot win.

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