Online Gaming Companies predict Great Fourth Quarter

Online gaming is big business and recent business news reports would indicate that online gambling, including online bingo is thriving in the midst of the worst recession since World War Two. Online gaming giant Playtech said that it is seeing increased daily traffic and is well positioned to take advantage of newly regulated gaming markets. Playtech CEO Mor Weizer stated, “I believe that regulation will change the industry and is already changing the industry and therefore we would like to establish ourselves as the largest and most influential leading software provider in regulated markets.” Since Italy regulated online gaming in 2008 Playtech has seen an eight fold increase in Italian activity Weizer also said that he sees the opening of other regulated markets as a driver for further growth in the online poker business. Playtech is also an important provider of online bingo software used by many bingo sites.

There are mixed feelings about regulated internet gambling markets. PartyGaming chief executive Jim Ryan said that regulation across Europe will level the playing field for the online gaming industry. Stockbroker Davy said that the theory that online gambling is helped by regulation is not always true. Playtech which is the fourth largest online gaming company by market capitalization said plans to move to main markets are on track. Playtech’s third quarter gross income was 41.3 million Euros, (about $57,638,838.98 USD) up 30% this year as strong performances by its bingo and casino businesses offset losses in the poker sector.

Playtech is not the only gaming company to report growth. Online gaming firm 888 also reported positive figures and optimism. The recent television ad campaign in the UK for 888’s poker and online bingo brands were partially credited for the positive figures and outlook. The gaming group said it has 8.2 million casino, poker and sport real money accounts and increase of 21% over last year. In October 888’s average daily income increased by about 6%. 888 CEO Gigi Levy told Reuters News Agency, “The fourth quarter has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year.” 888 who calls itself the world’s largest online gaming company said that they have been awarded a license by the French government to operate poker and betting websites. The future looks bright for the online bingo industry. Should the US re legalize online gambling and bingo the online gaming market would probably explode.

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