PokerPages > Poker News > Poker News
PartyGaming Signs Deal with Leading Spanish Gaming Group CIRSA
Fri, Feb 6th, 2009 @ 12:00am
Party Poker parent, PartyGaming, today announced that it has entered into a three-year global alliance with Spain's leading international gaming group, CIRSA Gaming Corporation S.A. (CIRSA). PartyGaming said in their press release that the alliance would enable them to "explore and develop internet gaming opportunities in Spanish-speaking countries," a nod to CIRSA's strong presence in Latin and South America.
The alliance announcement comes as PartyGaming reported a steep 18% fall in fourth quarter revenues from its traditional online gambling activities. The company attributed US dollar currency movements, promotions, tough competition pressures- particularly in online poker, where sites that continue to take bets from US customers are distorting the market, and a delay in the launch of the group's new loyalty scheme, adversly affecting revenues.
Barcelona-based CIRSA reports that they have become one of the world's leading offline gaming companies. They own and operate bingo halls, casinos and amusement arcades in more than 70 countries. They have market leadership in Spain where they have 57 bingo clubs, four casinos and 139 amusement arcades.
Commenting on today's announcement, Jim Ryan, Chief Executive Officer of PartyGaming said:
"Our agreement with CIRSA is part of our stated strategy to develop a strong business-to-business operation through alliances with leading companies around the world. We believe the combination of CIRSA's assets with our online gaming expertise will create a major opportunity for both companies, especially throughout the Spanish speaking world."
PartyGaming said it was in discussion with other well-known, but as of yet unnamed, operators about forming similar alliances.
Other PartyGaming News
PartyGaming, continues talks with the US Department of Justice, hoping to settle any US liabilities in the wake of the crackdown on internet gambling in 2006. PartyGaming noted that the DOJ discussions "continue to progress in line with our expectations".
In December Anurag Dikshit, co-founder of PartyGaming pleaded guilty to a single charge of online gambling and forfeited $300m, which in return ended any liability hanging over him.
It is rumored that Russ DeLeon and Ruth Parasol, two other founders of the company, did not settle with the US authorities at that time, as they prefer to wait to see if the Obama administration re-opens the United States to online gambling. No mention of the intentions of Vikrant Bhargava, the fourth founder of the company, has been made.
Read Related Articles:
More Poker News Articles
PokerStars to Sponsor Irish Poker Championship
12am Wed Mar 31st, 2010
PokerStars.com, the world's largest online poker site, just announced that they will throw their substantial weight behind one of Ireland's major poker festivals, The Irish Poker Championship (IPC), as part of the new PokerStars.com UK and Ireland Poker Tour.
UIGEA Delayed 6 Months in Temporary Victory for Online Poker
12am Thu Dec 3rd, 2009
Days before the December 1 deadline for implementing the UIGEA, the U.S. government announced a six-month postponement of the poorly defined anti-gambling regulations. The U.S. Department of the Treasury and the Federal Reserve Board jointly released a statement moving the deadline for UIGEA compliance to June 1, 2010.
Fabrice Soulier Joins Everest Poker's Pro Roster
12am Thu Nov 26th, 2009
To further strengthen its support for French poker in anticipation of the opening of that market, Everest Poker has signed renowned French poker pro Fabrice Soulier as its latest ambassador.
HHPT Co-Sponsors Bayou Poker Challenge Ladies Event Dec. 20
12am Wed Nov 25th, 2009
The HighHeelsPokerTour (HHPT), the first all women's poker tour launched on the East coast, will wrap up their 2009 schedule at Harrah's New Orleans on December 20th where they will co-sponsor the Ladies Event #14 no-limit Hold'em at 12 pm.
OPPAGA Reports on Florida's Online Poker Options
12am Tue Nov 24th, 2009
Given that UIGEA permits individual states to regulate online poker, the Florida Legislature's Office of Program Policy Analysis and Government Accountability (OPPAGA) published a report this week presenting three options available to Florida State lawmakers in order to protect consumers from unlawful internet poker: regulate it, prohibit it, or carry on with the status quo pending federal legislation.
BC Poker Champion Arrested, Charged with Manslaughter
12am Tue Nov 24th, 2009
Just two days after taking down the BC Poker Championships Main Event, Sophon Sek of Cloverdale, BC, was arrested in connection with one of the most storied crimes in the Province's history.
Local Businessman Bags European Poker Tour Vilamoura Bling
12am Sun Nov 22nd, 2009
The European Poker Tour rolled into the Casino Vilamoura last week, instantly generating the richest poker prize pool in the nation of Portugal's history.
Keikoan Captures Harvey's Lake Tahoe WSOPC Championship
12am Thu Nov 19th, 2009
This week marked the finale of the biggest annual tournament series in Northern Nevada, the WSOP Circuit championship at Harvey's Lake Tahoe. While the Main Event saw only a modest turnout, it did boast of a tough final table, and a WSOP bracelet owner as the eventual champion.
WSOP Main Event Champ Joe Cada to Appear on Letterman
12am Wed Nov 18th, 2009
The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu
12am Tue Nov 17th, 2009
Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top.