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Partygaming, the online gambling company, is to expand its white label strategy after seeing revenues rise by 17% to £254.8m in the first half of the year.

The company has seen revenue increases across its portfolio. Poker revenues are up by 6% driven by higher yields; casino revenues are up by 38% due to both higher player numbers and yields; bingo revenues are up by 82%, driven by UK growth and sports betting revenues are up 36% due to strong increase in betting volume.

Overall profits were also up 76% to £64.9m over the same period last year.

The group now plans to expand its white label strategy and extend licensing of its gaming software - poker, casino, bingo and sports betting - and associated services to other gaming operators.

New chief executive Jim Ryan said while consolidation within the gaming industry was "undoubted", Partygaming has a three year-plan to focus on building the business and would act as one of the consolidators.

Partygaming was one of the gambling companies worst hit by the US law banning online gambling in 2006, seeing 2007 first half revenues drop by 68% as a result.

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Published 29 August, 2008 by NMA Staff

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