15 September 2005

PartyGaming Stumbles.

For those not following at home, PartyGaming (PartyPoker's owner) announced a weak July and August, with growth of 4% vs. 45% growth forecast. Insiders cashed out close to $1.8bil after the IPO. The stock plummetted 33% the day of the lower growth announcement, trading below the IPO price.

The advertising dollars spent have been a waste, as well as the delayed WSOP (pushing telecasts back three months). This coupled with no US online winner and the strength of the professionals again may be tempering growth.


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