Games
PartyBets
PartyBets.com was launched in November 2006 following the acquisition of Gamebookers, a non-US-facing sports book, in August 2006. Now fully integrated into the Party-branded systems platform, PartyBets and Gamebookers were successfully merged onto a single gaming platform in June 2007.
PartyBets now offers bets on a large number of different sporting events, in 9 languages and in a variety of currencies. Since its integration onto the Party platform, its offer has rapidly expanded. PartyBets now provides an extensive live betting offer, where punters are able to place bets during a sporting event while in November 2007 it launched a comprehensive fixed odds horse race service through an alliance with Sporting Index.
As a relatively recent addition to the portfolio, PartyBets and sister site Gamebookers represented 4% of Continuing revenues and 3% of Continuing Clean EBITDA in the year to 31 December 2007. In that period both sites had more than 168,500 active customers and generated a total gross win of $22.1m with an average gross win margin over the period of 6.3%.
As with casino games, customers place bets against the house and revenue or 'gross win' represents stakes placed, less winnings paid out.
