PartyGaming Revenue Up Thanks to Casino

PartyGaming reported Wednesday that revenues were up 52 percent in the final quarter of 2007 compared to the same quarter in 2006.  This was more the result of its casino sales, rather than its Party Poker business, the former stalwart of the internet poker industry.

Casino revenues were up a whopping 156 percent from last year’s fourth quarter, to £42.3 million and up 15 percent from the third quarter of 2007.  On the other hand, poker revenues, which make up about two-thirds of the company’s sales, were up only 23 percent from the same quarter in 2006, and actually fell 3 percent from the third quarter.

The company sees this as the result of a revamped customer loyalty scheme, which saw more bonus money going to customers.  This dropped the yield per active poker player by 9 percent.  The number of active poker players rose 13 percent from the third quarter.

Across all business units, new player signups were up 16 percent quarter-to-quarter.