PartyBets.com
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. Both PartyBets and Gamebookers offer bets on a variety of sporting events, in 11 languages and accept bets in a variety of currencies.
As a recent addition to the portfolio, the new segment represented 3% of Continuing revenues and 4% of Continuing Clean EBITDA in the six months to 30 June 2007. In that period both sites had more than 112,000 active customers and generated a total gross win of $10.0m with an average gross win margin over the period of 6.8%.
As with casino games, customers place bets against the house and revenue or 'gross win' represents stakes placed, less winnings paid out.
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