Quarterly financial results issued by partypoker owner GVC have revealed that after a five-year decline, the online poker operator is finally seeing growth.
The operator is also back in the top five global poker rooms—a ranking that is measured by volume of cash game traffic—joining the likes of PokerStars and 888poker.
Partypoker has realigned its focus to development and improve their brand under new management GVC, following the buyout of partypoker’s parent company bwin.party back in February.
Prior to this bwin.party’s online poker brand had been seen as the thorn in the side of management as well publicised revenue decline plagued the company.
Resurrecting The Brand
The new focus of priorities has already seen the implementation of new products come to market, overhauled tournament schedules and the reintroduction of popular online poker festivals. Here we take a closer look at the company’s recent achievements:
- Re-launching in 21 national markets of which the company excited back in April 2013, due to what was speculated at the time as a move to save money by bwin.
- Product development—with the introduction of their twist on traditional Lottery Sit and Gos: Sit & Go Hero is a four-handed variant with bounties. It is now live on partypoker’s dot-com network.
- Revamped tournament schedules—built around four-time middleweight world champion boxer Carl Froch, party revamped its weekly tournament schedule calling it the “Power Series”. The series will guarantee over $1 million in over 150 guaranteed tournaments each week.
- The return of Powerfest—the online poker festival that was last seen in February. The series that starts again in May will have the biggest prize pool in the event’s history —$7.8 million will be guaranteed over the three week series.
- New ambassador endorsement—as recently as last week, partypoker signed PokerStrategy coach and high stakes cash game and tournament pro Patrick Leonard as its latest ambassador.
- Changes in the poker room—the scrapping of withdrawal fees and third party tools all align under the company strategy that aims to make the site a “fun and fair place to play online poker.”
With all these innovative changes and no doubt more set to come over the coming months, it is a really exciting time for players be on the partypoker network as they work to resurrect their brand.