Mitch Garber, chief executive of Party Gaming situated in Gibraltar was very hopeful about the fact that the online gaming group is expected to make a huge profit over $140 million (GBP71.9 million pounds) for the year 2006. The sudden interruption by UIGEA in Internet Gaming could not make any huge impact in the profit area of this company.
But, the US ban on financial transactions to access gambling websites has certainly made some adverse effects that can be understood comparing the profit achieved in the year 2005 which was around $293 million.
PartyGaming has already experienced its profit cut down due to US ban on financial transactions to access gambling websites. This company is also compelled to withdraw its activity in US blocking US based gamblers. The company is trying to compensate the matter exploring fresh markets in Asia &Europe.
Garber stated on Thursday that he is optimistic to enhance the international coverage of the company while making some attractive business deals in countries like Russia & China.
February 10, 2007, 5:52 pm (4 years ago)
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