PartyGaming blame losses on Euro 2008

Shares for PartyGaming have fallen more than 10% recently even though Party Bingo is growing since the online bingo game profile has been raised with the launch of Bingo Night Live.

Last year saw the number of players across the PartyGaming brands move past the 1 million mark for the first time but there has been a "weaker than expected" performance in its main brand PartyPoker and it's sports betting part of the brand with revenues overall being lower than they had expected.

Another blow for the finances of PartyGaming was the replacement of their chief executive Mitch Garber who has chosen not to extend his contract past May of this year. The new chief executive has been replaced by the former boss of St Minver, Jim Ryan.

Personally I'm not a huge fan of Party Bingo and the associated brands, the deposit bonuses are really confusing to say the least and I'm not overly keen on how the site plays anyway. Add to that the really patronising TV campaign recently with the slogan "What women want" using things like "a man who holds your hand and your shopping bags" as headliners and all in all Party Bingo is not an online bingo site I frequent.