PartyGaming Stocks Plummet 33%
After comments from an operator at Party Poker’s website warned that growth in their customer base had slowed, PartyGaming’s share value has fallen by a third (£2bn).
While forecasts earlier in the year had speculated growth in the industry to remain strong at 45% annually over the next 5 years, the last quarter has shown anything but - with a slow down to only 4% since July.
The fall in stock values in the gaming sector have not been limited to Party Poker however. The warning has resulted in share prices falling 16% for Paradise Poker (owned by Sportingbet) despite managements statements that growth has met expectations, as well as a reported 11% drop in value for Empire Online, another competitor.
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