PartyGaming Revenue Up But Some Still Worry

Party Gaming reported a 21 percent increase in revenues on Thursday as they are trying to assure their investors that they are still a profitable investment. 

The company once had the largest IPO back in 2004 and they were also the largest online poker room to be found before the United States passed the UIGEA and they stopped taking US players.

Party Gaming runs both Party Poker and Party Bets and on Wednesday revenue from the first three months of the year up to March 31st reached $128.9 million dollars.  Poker revenue was up by 14 percent and their casino revenue was up 45 percent compared to the figures from 2007.

However their shares aren't doing anywhere near as good as they fell 5 percent according to analysts that said that the outlook for full year growth wasn't very promising in the light of disappointing performance in the first four weeks of their second quarter.

"They are down in absolute terms in the beginning of the second quarter, which means that their full-year revenue is going to look like a bit of a struggle," Arbuthnot analyst Paul Leyland said.