PartyGaming, a major online gaming company which offers a host of gaming options including PartyBingo, PartyCasino and PartyPoker recently came out with its 2010 first quarter financial report. The online gaming portal announced that there has been a 27 per cent year on year rise in the overall revenue in the first quarter of the year. The profits have mainly been raked in from most of the PartyGaming elements except for poker which witnessed a slow phase.

The report also suggested that the company had a profit of $127.1 million with a contribution of $51.2 million by Casino. PartyGaming announced that its Bingo brand has given a good performance during the first quarter of the year 2010. The revenue from Bingo saw a record leap from $1 million to $17.7 million within a year during the same period of time.
However, PartyGaming’s Poker brand gave a rather disappointing performance during the first quarter following increased competition. The report has 0000revealed that the figures have plummeted by 11 per cent to rest at $47.8 million which is several notches lower than 2009’s figures from the same time period.

Industry insiders have commented that although the financial results of PartyGaming are positive so far, the company’s investment into online casino promotion and its visibility may reduce the overall margin pressure on the company. However, the Chief Executive of PartyGaming concluded that the financial expectations of the company have been met as far as the first quarter of the year is concerned.