1st Jul 2008 07:00
1 July 2008
PartyGaming Plc
PartyGaming launches alliance with City Index
PartyGaming Plc ("PartyGaming"), the world's leading listed online gaming company, announces the launch of PartyMarkets.com, a platform for financial spread-betting and contracts for difference (CFDs), created through an exclusive alliance with City Index Group ("City Index"), a world leader in leveraged retail derivative trading.
Under the terms of the alliance, City Index will develop this online trading platform giving PartyGaming customers access to financial markets around the globe through which they can trade CFDs in the UK, Europe and Asia, with the additional option of financial spread betting for UK residents.
Commenting on the alliance, John O'Malia, Group Managing Director at PartyGaming, said:
"Our agreement with City Index enables us to develop an exciting new group of products for our customers that will be exclusive in the online gaming market. Derivative trading on financial markets is already a multi-billion dollar market and we believe this will prove to be a popular addition for our customers."
Clive Cooke, Chief Executive of City Index, added
"We are delighted to be working with PartyGaming in opening up the financial markets to a wider audience, and are excited about developing what we expect will prove to be popular new products as part of the PartyMarkets offer over the coming months."
Contacts:
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PartyGaming Plc |
+44 (0)20 7337 0100 |
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Peter Reynolds, Director of Investor Relations |
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John Shepherd, Director of Corporate Communications |
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City Index Group |
+44 (0)207 107 7275 |
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Alison Cashmore, Corporate Communications |
About PartyGaming Plc
PartyGaming Plc is the world's leading listed online gaming company. Founded in 1997, the Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year to 31 December 2007, PartyGaming's continuing operations generated revenues of $476.0m and Clean EBITDA of $111.7m. PartyGaming's principal brands are PartyPoker.com, one of the world's largest online poker rooms, EmpirePoker.com, PartyCasino.com, PartyBingo.com, PartyGammon.com, PartyBets.com and Gamebookers.com. None of the Group's sites accept real money customers located in the US.
PartyGaming is regulated and licensed by the Government of Gibraltar and by the Alderney Gambling Control Commission and is certified by GamCare as a responsible gaming operator. For more information, please visit www.partygaming.com.
About City Index Group
City Index is one of the world's leading providers of retail derivative trading through CFDs, foreign exchange, options and, in the UK, spread betting. The Group trades primarily under the City Index, Finspreads and FX Solutions brands and also provides a fully outsourced white label solution to numerous partners.
City Index was established in 1983 and its ultimate parent company is IPGL, a private holding company. IPGL's other interests include an indirect shareholding of approximately 20 per cent. in ICAP plc, the FTSE 100 listed interdealer broker of which Michael Spencer is a director and Chief Executive Officer.
www.cityindex.com
Related Shares:
BPTY.L