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Friday, October 21, 2005

PartyGaming sees Q3 revenues rise by 32%

PartyGaming chief executive Richard Segal suggested the positive reaction of the stock market to the company’s third quarter results vindicated the company’s overall strategy for long-term growth.

“People are seeing the results of us starting to implement our strategy in earnest. The stock market is pleased that it is being reflected in our figures. We have upped the ante and it has been recognised.”

Group revenues in the third quarter to 30 September were up 32% over the same period last year to US$220m from US$166m.

During the period, poker revenues (including skins) were up 38% over the nine months. Although poker revenues over the previous quarter were up only 4%, the company said it added 209,000 new real-money players over the three-month period.

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