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Last Updated: Thursday, 8 December 2005, 13:29 GMT
Partygaming ups profit forecast
Poker table
Partygaming said the winter weather was helping to boost business
Shares in Partygaming, the firm which owns the Partypoker website, have risen nearly 10% to 128.5 pence after it reported a jump in user numbers.

Partygaming said it expected to beat 2005 profit forecasts thanks to growing numbers of punters and the successful launch of its new blackjack site.

Since they floated in June, Partygaming shares have had a rollercoaster ride.

They launched at 116p, but plunged to 67p in September after warning that new players were spending less money.

Since then Partygaming shares have scrambled back after the group ring-fenced its own poker players from those of rivals, which had been given permission to use its sites in return for a commission.

Game on

Partygaming also said the winter weather was helping lure more customers in, while about 40% of players were now also playing blackjack following its launch on 8 October.

It's a fantastic trading update
Robin Chhabra, analyst

"The increase in revenues following the introduction of blackjack to our PartyPoker.com customers has been substantial and has exceeded our expectations," the company said in a trading update.

Analysts had previously expected full-year pre-tax pre-exceptional profits of about �303m, but now they are predicting earnings of between �320m and �329m.

"It's a fantastic trading update," said analyst Robin Chhabra at Evolution Securities.

"This transforms the economics of the business... and should wipe away the concerns people had a few months ago."


SEE ALSO:
Empire Online sues Partygaming
06 Dec 05 |  Business
Partygaming takes care of 'skins'
11 Nov 05 |  Business
Partygaming in Empire bid talks
03 Nov 05 |  Business
Online gaming firms bet on tie-up
17 Oct 05 |  Business
Public takes punt on Partygaming
30 Jun 05 |  Business
The growing allure of online poker
02 Jun 05 |  Business



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