NEW SUBSIDIARY FOR PARTY GAMING
4 July 2008
Online gaming group launches financial
spread-betting platform PartyMarkets.com
The Party Gaming online gambling group is expanding into
the financial spread-betting sector with an exclusive
partnership with City Index for its new website Party
Markets.com.
The derivatives trading firm will develop and manage
prices to provide customers with access to financial
markets around the globe in which to trade in contracts
for difference (CFDs) and UK residents will be offered
the additional option of financial spread betting.
The move to offer financial betting products is in line
with other operators that have diversified their product
range to include such offerings and marks a change of
focus from targeting the recreational player base.
“Our partnership with (UK broadcaster) ITV can be seen
as a bridge between the TV and online gaming audiences,"
a statement from the company said. "This agreement with
City Index represents a bridge between e-gaming and
investors. It acts as a step towards convergence.”
Party will look to target the high rollers across its
poker and casino platforms and claims that the research
and focus groups it has already done suggests there is a
demand for the new product in its customer base.
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."
Online Casino News courtesy of
InfoPowa
More news here.
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