Source AP ©

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.

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