PartyGaming, owner of PartyPoker, saw group revenue rise by 52 percent in the fourth quarter of 2007 to $120 million as poker continued to thrive, despite the company’s exit from the U.S. market in October 2006.
Total group revenue, which also sees receipts from bingo, casino, and sportsbook, was $448.2 million for 2007, up significantly from the 2006 full-year total of $324.7 million.
Poker revenue reached $72.6 million in the final trading quarter of 2007, up 23 percent from $58.8 percent in the same period of 2006, but down 3 percent quarter-on-quarter. The full-year revenue from poker for 2007 was $288.8 million, up from $268.1 million in 2006.
In a statement, the company said, “Since the end of September 2007 the Group has enjoyed strong growth in the numbers of players playing poker on its sites. However, along with a number of competitors, PartyPoker has lost a small amount of market share to those sites that continue to take bets from players located in the US and other countries from which we will not accept players for regulatory reasons. It is estimated that as at 28 January 2008 PartyPoker had an average global market share of 10.2 percent.”
The full results can be seen here.
