Poker Stocks in the news
On Tuesday afternoon, World Poker Tour Enterprises announced their third quarter 2008 earnings, which were significantly down overall versus the same time period of 2007. Yet both of the executives who were on the investor call on Tuesday were confident that WPT Enterprises could turn around with the repositioning of the company in the coming year. Read more »
This week, Playwize, the parent company of online poker room Pokerwize, has announced that the company has "ceased all trading operations and made all of its employees redundant," according to a press released issued to the London Stock Exchange. Read more »
According to a report published this week by the Reuters news agency, which cited a report in the Financial Times as its source, PartyGaming, the parent company of popular online poker room Party Poker, may enter into a partnership with Cryptologic to "increase liquidity while reducing expenses substantially." Read more »
In a Securities and Exchange Commission filing yesterday, World Poker Tour Enterprises disclosed that they have received an extension on their attempts to raise their stock prices to NASDAQ and SEC standards. Read more »
This week, World Poker Tour Enterprises, which is traded on the NASDAQ Stock Exchange in the United States under the symbol "WPTE," announced the hiring of Thomas Flahie to be the company's new Chief Financial Officer (CFO). Read more »
In a move announced by Lakes Entertainment on Tuesday, the company "declared a stock dividend of all of the Company's shares in WPT Enterprises, Inc.," according to its statement. The actual distribution of stock will take place on November 21st. Read more »
The stock market in the United States has declined precipitously in recent weeks. News of a possible "bailout" hit the wires on Tuesday night. However, stocks listed on any of the major exchanges in the United States have taken a beating. Among them is the World Poker Tour, which sank to an intraday low of $0.56 on Tuesday, its lowest share price on record. Read more »
In its interim results for the six months that ended on June 30th, revenues for Asian Logic Limited skyrocketed 208% according to a report released on Tuesday to the London Stock Exchange. Its total revenues jumped to $54.9 million, up from $17.8 million in 2007. Read more »
In a statement released to the London Stock Exchange, PartyGaming, which is traded under the symbol "PRTY," announced that Jon Salmon will become the company's next Chief Marketing Officer. Read more »
In a trading update for the third quarter issued by software developer and licenser CryptoLogic on Monday morning, the company announced that it expected to see an operating loss for the third quarter of $1.0 to $1.5 million. The company also stated that it expects to take a foreign exchange loss of $3.6 million. Read more »
Shares of PartyGaming, which are traded on the London Stock Exchange under the symbol "PRTY," were added to the FTSE4Good Index on Friday. Read more »
888 Holdings report showed growth across the board, led by a 36% increase in operating income in 2008 compared to the second quarter of 2007. Read more »
Investors of the gaming software company CryptoLogic took a major hit on the London Stock Exchange last week, as shares sunk by 10% on Thursday alone after the market digested a report stating that revenue during the second quarter would fall short of expectations. The company attributed the downturn in revenue to the "seasonality and the effect of the Euro 2008 football championships," which wrapped up in June. CryptoLogic also claimed that "its success in signing five new customers in the second quarter enhances its outlook for the second half of 2008." The stock rebounded 4.16% on Friday, erasing some of the losses. Read more »
GigaMedia Limited (Nasdaq: GIGM) announced today that the World Series of Poker, sponsored by GigaMedia's Everest Poker, has successfully completed the first portion of the main event and will begin airing this week on ESPN. The broadcasts will ultimately reach in excess of 300 million households globally. Read more »
Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online and land-based gaming industry, today announced its Key Performance Indicators (KPI's) for the quarter ended 30 June 2008 and also provided an update on current trading. Read more »
Investmant bank JP Morgan released a report this week looking at the fundamentals of Ladbrokes plc, which is due to release its first-half results on August 7. Read more »
888 has agreed to power the PokerDomePoker.com website, which is owned and operated by the Australia-based PokerDome Group. Read more »
Playtech has signed a licensing agreement with Paramount Pictures to produce games based on two of the studio's classic films, Ridley Scott's 2000 Best Picture Oscar winner "Gladiator" and Brian De Palma's 1987 Al Capone drama "The Untouchables", starring Robert DeNiro and Kevin Costner. Read more »
Party Gaming, parent company of Party Poker, gave its stockholders a sneak peek into its finances the other day. According to a press release issued on July 8th gross revenues have fallen slightly since late April due to seasonality and competition for players’ leisure time from the Euro 2008 football tournament. Party’s casino business has… Read more »
Sportingbet (SBT.L), is seeking a bail hearing for its two junior staff members who were arrested in Turkey last month in connection with Sportingbet's Turkish-facing sports betting operation Superbahis.com. Read more »
Shares in PartyGaming (PRTY.L), parent company of PartyPoker, were up over 10% Friday amid rumors that it has come to an agreement with U.S. authorities over its prior U.S.-facing activities. Read more »
