Popular online casino and poker group PartyGaming raised many fears after its announcement on Tuesday that the current popularity of internet poker may slow down. This may cause shares to drop by quarter, and erase 1.3 million pounds off its market value.

PartyGaming, owners of PartyPoker, StarluckCasino, and PartyBingo stated that newcomers to poker have been spending less money and are not as committed to the game as those original players who assisted in the massive growth of online poker.

The Gibraltar-licensed group’s shares have fallen 21.5 percent, lowering the value of the group to 4.9 billion pounds, destroying all gains since its flotation. Operators have had to attract casual poker players and not the usual strong poker players, which has changed the economics of this business.

Source:  Poker777 Staff

Thursday, 08 September 2005