PartyGaming Reports Revenue Increase of 54%
By Andrew B
PartyGaming has reported a revenues increase of 54% over the last year as the online gaming industry continues to soar. In the three months to March, the giant Gibraltar-based online casino and poker group took in $342.6m - up from the $222.6m generated in revenues in the corresponding quarter last year.

Much of this increased revenue came as the firm signed up more than 263,000 new poker players to its service with an average of 24,500 players logging onto its service each day, creating daily revenue of nearly $1 million.

Martin Weigold, Group Finance Firector, said, 'I am pleased to report that we have made a strong start to 2006. The first quarter has seen continued strong growth in poker on the back of a record number of poker sign-ups.'

The firm also said its new blackjack game boosted its latest sales, which rose from $342.6 million in the three months to end-March from $222.6 million previously, prompting analysts to upgrade full-year forecasts.

The impressive first-quarter figures will provide a boost for incoming chief executive Mitch Garber, who will be officially unveiled as Richard Segal's successor later this week.

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