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Last Updated: Friday, 21 October 2005, 15:46 GMT 16:46 UK
Gambling picks up at Partygaming
Poker chips and playing cards
Online poker has boomed in popularity
The demand for internet gambling has continued to drive growth at the UK's biggest online gaming firm Partygaming.

There had been concerns that earnings would slip after Partygaming stopped letting players from rival websites gamble at its poker card tables.

Partygaming warned that growth could be less than many analysts had predicted.

Instead, the exclusive website helped lift growth and the firm said revenues rose 32% to $220m (�124m) in the three months to 30 September from a year ago.

Pick up

The positive current trading update should reinstall some confidence
Matthew Gerard, Investec Securities

Chief executive Richard Segal said he was "confident about the group's prospects".

Adding to his optimism was evidence that poker players were using the company's casino games - such as blackjack and roulette - more than had been expected.

Analysts urged caution warning that Partygaming's earnings may be remain volatile and susceptible to increased competition.

However, the outlook for earnings was still good, they said.

"The positive current trading update should reinstall some confidence in Partygaming," said Matthew Gerard, an analyst at Investec Securities.

Partygaming's shares jumped 8 pence, or 10.3%, to close at 86p.


SEE ALSO:
Partypoker move hits Empire stock
10 Oct 05 |  Business
Partygaming joins Footsie index
07 Sep 05 |  Business
Slowdown fear knocks Partygaming
06 Sep 05 |  Business
Online betting firm in bid talks
05 Sep 05 |  Business
Partygaming shares rise on debut
27 Jun 05 |  Business


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