Partygaming boosted by poker punters

INTERNET gaming firm PartyGaming yesterday said fourth quarter revenues rose 32 per cent compared with a year earlier and 17 per cent compared with the previous quarter; generating almost £279m for 2009.

Finance director Martin Weigold said he expects sales and profit to post “double-digit” gains this year, excluding acquisitions. The group predicts a profit growth of at least 10 per cent for 2010.

Chief executive Jim Ryan said the best performers for the quarter were casino and sports betting, while the group run Party Poker is now the largest poker liquidity pool excluding US-facing sites. “With the introduction of ring game poker, casino and bingo anticipated in Italy in the first half of 2010, the opening of the In French market later this year and Denmark in 2011, we believe the outlook remains positive,” he said.

PartyGaming expects the momentum towards creating commercially viable and regulated markets in the online gaming sector globally, to strengthen its future prospects.

The shares have gained 14 per cent this year, valuing the company at £1.2bn.