PartyGaming Revenue Up 3rd QuarterOnline gambling company PartyGaming PLC on Thursday reported a 24 percent increase in revenue in the third quarter, as big gains in casino revenue more than offset a decline from poker betting.
The company reported revenue of US$115.7 million (€81.2 million), compared with US$93.3 million in the same period of 2006. Casino revenue rose 158 percent to US$36.7 million (€25.8 million), sports betting rose 91 percent to US$4.2 million (€2.95 million) and poker revenue fell 3 percent to US$74.8 million (€52.5 million).
PartyGaming shares were up 5.5 percent at 29 pence (€0.42; US$0.59) on the London Stock Exchange.
The company's shares were trading above 100 pence last year before the U.S. Congress passed anti-online gaming legislation, effectively closing down the lucrative U.S. market.
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Gambling911.com News Wire
Originally published October 25, 2007 9:34 am ET
