Party Gaming goes from biggest to biggest

The world's largest online poker room is only getting larger. Boasting a major increase in last year's numbers Party Gaming is looking confidently towards a successful 2006.
Party Gaming's impressive new figures were recently released with its fourth quarter trading update.

Publicly listed on the London Stock Exchange the company also owns Party Poker, the largest internet poker site currently existing. Millions of players around the globe frequent both sites annually. Nevertheless, the figures show the Party Group's revenue climbed by over sixty five percent for the last quarter, making over US$320.3 million.
In comparison, during the same period last year the company netted US$194 million. According to company spokesmen, the figures indicated a vast increase in players signing up as well as player yields.

Thanks to the 230,000 new real money players that visited the site, the company was able to surpass the targeted expectation of 800,000 players playing for money. Instead they reached a total of 839,317 real money players altogether. Indeed, Party Gaming's daily revenue makes the defense budget look like peanuts.

The fourth quarter drew in an average of US$2.5 million a day. This is an increase of half a million dollars for the same period in 2004. Interestingly, however is the source of the new sign-ups. Indeed, over thirty-percent were from Europe and the Scandinavian countries. Indeed, Europe is quickly becoming a major source of revenue for the company providing over seven percent of the revenues – this figure excludes earnings from the UK. The revenues had a major increase even between last year's third and fourth quarter.
While the third quarter netted US$11 million the fourth quarter earned the casino over US$8 million. The major increase in figures is not being attributed to new sign-ups, rather it comes as a result of cross-selling blackjack through PartyPoker.com.  Indeed, almost half of Party Poker players also tries their luck at blackjack. This is what effected and continues to impact on the group's viability and profitability.
According to company spokesmen, giving players the access to blackjack has transformed their business and has clearly proved popular and successful amongst players.
Obviously riding the wave of success, Party Gaming plans to launch their fully integrated platform and shared purse early this year.

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