Partypoker Responsible For Boosting Parent Company GVC Holdings F

Posted by Carolyn on Oct 05, 2017 Posted in Online Poker News, Poker Industry News, US Poker News | No Comments »

Partypoker, which recently launched a series of online poker tournaments called PowerFest, has reported steady financial growth. Its parent company, GVC Holdings, reported early this month that the company’s first as well as third quarter revenues showed substantial growth year-on-year and that partypoker was responsible for most of this growth.

GVC Holdings Continues To Grow

Kenneth Alexander, the CEO of GVC Holdings, said that a number of factors such as increase in marketing, product development, enhanced player experienced, and localized market focus are responsible for this growth. GVC Holdings acquired gaming company bwin.party in 2016 and the group has continued to expand its presence and scale its revenues. Alexander put down the continued success to a combination of talented employees, company branding and innovative technology.

The company has not yet revealed the exact numbers for partypoker because its entire revenue is rolled up in one number. However, it presented some statistics that reveal that most of the gains are because of partypoker.

Partypoker Boosting Revenues

Partypoker has showed year-on-year growth in total net gaming, first deposit amounts, first-time deposits, and total deposit amount. The first-time deposit amount at partypoker increased by 35% when compared to the same in Q1 and Q2 of 2016. The first-time deposit amount increased by 88% in Q3 when compared to the same in 2016. The most impressive growth is the 32% increase in total net gaming revenue when compared to the same in Q1 and Q2 of 2016.

This growth could be due to the large amount of money GVC Holding has pumped into its poker vertical. Other operators, on the other hand, have focused more on verticals such as casinos and sportsbooks. Instead of signing sponsorship deals with successful poker players and high-earning professional poker players, partypoker has launched marketing campaigns with celebrities such as Kevin Hart and poker players such as Jaime Staples, who are very popular at social networking sites.

New Marketing Strategies

The online poker room has signed deals with celebrities such as Fedor Holz and successful poker players such as Kristen Bicknell and Patrick Leonard, who are very popular on social networking sites. Partypoker has also attracted high rollers by launching $25k guaranteed tournaments. The online poker room runs high-stakes Omaha games every week, which attract high-stakes players such as Matt Kirk, Leon Tsoukernik, Tony G., Sam Trickett, and Viktor Blom.

The online poker has also focused on live poker, launching events such as the partypoker Live series, which feature several $1 million guaranteed tournaments at places from different parts of the world. Partypoker has also upgraded its software and improved its loyalty program.

Could Push Out 888Poker Soon

Industry experts such as PokerIndustryPro has predicted that partypoker will soon become the number two provider of online poker gaming services in the world, a position currently held by 888 Poker.

Poker players have already noticed the fact that partypoker is growing at a rapid pace and are very happy about it. For example, professional poker player Mike Leah, who finished fourth at the partypoker Live Canadian Poker Championships, said that he is happy with partypoker’s big guaranteed tournaments.

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