PartyGaming says gamblers cutting back in downturn

Updated Thursday, November 20, 2008 11:14 am TWN, Reuters

PartyGaming says gamblers cutting back in downturn

LONDON -- Online gaming firm PartyGaming said gamblers were cutting back on visits to its websites in the economic downturn, but it still expects to meet full-year earnings forecasts. The group, which runs the PartyPoker site, said on Wednesday it was also suffering from the recent strengthening in the U.S. dollar, but that this was being offset by strong growth in its casino, sports betting and bingo games.

“Chief Executive Jim Ryan told reporters. “The online gaming industry is having to navigate the way through its first ever economic slowdown.”

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