Despite suspicions that the party was approaching its end for online poker company PartyGaming, the company issued surprisingly promising results in yesterday's Q3 report. The quarter, which ended on September 30, boasted a 32 percent increase in revenues, compared to last year.

In addition to revenue growth, PartyGaming stated that it was already seeing the boon of a move, announced by the company October 8, to partially separate its operations from partners such as Empire Online. PartyGaming said that since the end of September, daily gross poker revenue is up 10 percent, compared with the average from Q3.

PartyGaming also said that since the launch of the new platform, trading has been "encouraging," a godsend for the company, which has seen a severe drop in its share price in past months. In June, PartyGaming floated on the London Stock Exchange to the tune of £4.64, peaked at over £7 billion, but later fell all the way down to £3 billion, following predictions of flat growth for internet poker.

Source:  Poker777 Staff

Saturday, 22 October 2005