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News Archive
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Online blackjack 'is the new poker'
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[2005-12-09]
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Online gambling giant PartyGaming has claimed blackjack is going to be the next big thing in the internet betting world, with the potential to grow as quickly as online poker.
The claim comes after the group saw its shares surge 16.5 per cent yesterday – a rise linked in some part to the launch of blackjack games on the groups Party Poker website in October.
In just two months, Blackjack has over taken roulette and other games to become the most popular non-poker game on the site.
The share rise of 19.25p means the group's price has doubled over the last two months.
PartyGaming's house win from its casino games is now £460,000 to £690,000 a day, whilst its 'rake' from poker is around £1.52 million a day – figures described as "staggering" by investment bank Morgan Stanley.
Richard Segal, PartyGaming's chief executive, told the Guardian: "The engine of our strategy is cross-selling over an integrated platform. The fact that 40 per cent of our poker players are playing blackjack tells us the strategy is the right one."
The surging popularity of blackjack has allowed PartyGaming to predict it will easily beat City forecasts for both revenues and profit this year.
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