PartyGaming says Q4 performance in line with its expectations LONDON (Thomson Financial) - PartyGaming PLC, the world's biggest listed online gaming company, said its financial performance in the fourth quarter to date has been in line with management's expectations and it remains confident about prospects for the current year. PartyGaming also announced it has entered into an exclusive licensing arrangement with Paramount Pictures to create a range of online slot machine games based on four of the studio's blockbuster films -- Top Gun, The Godfather, Saturday Night Fever, and Mission Impossible. Under the terms of the agreement, which is the first of its kind with a Hollywood studio, online games based on the films will be available for PartyCasino.com's customers to play early next year. The financial terms of the deal were not disclosed. The agreement is the fourth new business alliance that PartyGaming has secured with blue chip companies in recent months. In September, it entered into a deal with ITV PLC, strengthening an existing agreement. The new arrangement involves PartyGaming providing online gaming products, such as Emmerdale Bingo, to ITV.com. The company followed that up with two new alliances in November -- one with bookmaker Sporting Index to launch a comprehensive fixed odds horse racing service on its PartyBets.com platform, the other with German company RTL for a free-to-play poker site designed for German customers. PartyGaming is focusing on such ventures as an avenue for growth after it was forced to shut down its US-facing operation last year following the passing of the Unlawful Internet Gambling Enforcement Act. At 11.20 am, PartyGaming shares were trading at 29-3/4 pence, up 1/2, valuing the business at just under 1.2 bln stg. Following the update, Dresdner Kleinwort reiterated its 'buy' recommendation and 60 pence price target. It said visibility remains key for PartyGaming's share price and further confirmation that it is on track to meet 2007 earnings forecasts and has confirmed guidance for 2008 is 'another positive step for the group since its restructuring post its exit from the US last year'. Dresdner is forecasting underlying pretax profit of 86 mln usd for 2007 and 168 mln usd for 2008.