Author`s name AP ©

Casino revenue increases PartyGaming PLC profit in 3rd quarter

Casino revenue increases PartyGaming PLC profit in 3rd quarter
Casino revenue increases PartyGaming PLC profit in 3rd quarter

Online gambling company PartyGaming PLC marked 24 percent increase in revenue in the third quarter.

The company reported revenue of US$115.7 million (81.2 million EUR), compared with US$93.3 million in the same period of 2006. Casino revenue rose 158 percent to US$36.7 million (25.8 million EUR), sports betting rose 91 percent to US$4.2 million (2.95 million EUR) and poker revenue fell 3 percent to US$74.8 million (52.5 million EUR).

PartyGaming shares closed up 13.6 percent at 31.25 pence (0.45 EUR; US$64) on the London Stock Exchange.

The company's shares were trading above 100 pence last year before the U.S. Congress passed anti-online gaming legislation, effectively closing down the lucrative U.S. market.