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