Party Casino - A Bright Future Under Strong Ownership2017-04-26 14:00:00
Following the merger between Party Gaming PLC and bwin Interactive Entertainment AG in 2011, online casino operator PartyCasino has continued to thrive under the ownership of Isle of Man-based e-gaming operator Gaming VC Holdings PLC (GVC). Online gambling operator GVC experienced an exciting 2016, with the notable acquisition of one of Europe’s leading sports bookmakers bwin. Last month, GVC released its annual results, showing a rise in revenue of 9% to €894.6 million. Earnings rose 26% to €205.7m whilst adjusted pre-tax profit saw a significant increase to €93.8m.
GVC’s Large Portfolio
GVC operates in 4 main areas: sports labels, game labels, business to business and other areas. GVC’s sports labels, which include bwin, Sportingbet, Betboo and Gamebookers, saw positive results for 2016 despite the low percentage of marketing compared to other firms.
GVC’s game labels, which include PartyPoker, PartyCasino, Foxy Bingo, CasinoClub and Gioco Digitale, didn’t fare quite as well but numbers improved as the year progressed. Whilst PartyPoker and PartyCasino represent major challenges for GVC, PartyCasino has witnessed a rise in revenue per customer following its H2 relaunch as well as significant acceleration in acquiring new members. It is clear the brand is a crucial asset to the company, and GVC describes PartyCasino as “one of the world's largest online casinos, with 180 mobile games on offer including many of the classic casino games such as blackjack, roulette and a broad variety of slot machines”.