PartyGaming profits up 65% in Quarter 4

PartyGaming, internet poker giant (owner of Party Poker) reported a 65 per cent rise in revenues and a record number of new player sign-ups in the fourth quarter thanks in part to the addition of blackjack to its online casino.

The world’s biggest online gambling site said that group revenues rose to $320.3m from $194m the year before and that 229,227 new players had signed up of which 32 per cent were outside its dominant market in the US. Shares in the company came off a strong run before the announcement, which priced a upbeat news into the stock.

It fell 1.2 per cent to 143.8p in opening trade as investors booked profits.

Richard Segal, chief executive, added that as well as signing up new players, the company improved its yield per player by 8 per cent compared to the previous quarter as a result of a seasonal uplift and the addition of blackjack in October.

“The success of blackjack has transformed our casino business and proved very popular with a large number of our poker players."