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Party Gaming, the owners of Party Poker, the world’s largest online poker room operator, has released its trading results for the 2005 fourth quarter and shows some impressive figures. Group revenues for the quarter were up 65 percent to US$320.3 million compared to US$194 million for the same period in 2004. Net online poker revenues, excluding skins, were up by 31 percent compared with the previous year, to US$233.7 million. New real money players playing on Party Poker increased to 229,227 during the quarter, bringing the total number of real money signups for the year to 839,317, somewhat ahead of the target of 800,000. Average daily revenue during Q4 was US$2.5 million compared with US$1.9 million for the same period in 2004, an all time high for a quarterly period since the launch of the PartyPoker site in August 2001. Party Gaming chief executive, Richard Segal, said: “Europe provided 7.5 percent of our group revenues in the 2005 fourth quarter, while the UK supplied 2.5 percent revenues for the same period. North American players provided 82 percent of our revenues compared with 84 percent in the same period last year.” Net online casino revenues were US$82.3 million in Q4, an astronomical increase compared to the US$11 million achieved in Q3 2005. While sign-up numbers were consistent with previous quarters, the significant upturn in casino figures was the result of cross-selling blackjack through PartyPoker.com with 44 percent of all active poker players in the period also playing blackjack, the company said. With the increasingly strong performance of blackjack, daily net casino revenue reached an average of US$ 900,000 per day compared with an average in the previous year of $100,000. Segal stated, “During the quarter, 44 percent of active Party Poker players also played blackjack, which had a substantial and sustained impact on the profitability of the group. The success of blackjack has transformed our casino business and is proving to be very popular with a large number of our poker players. Party Gaming’s next major milestone will be the launch of the fully integrated platform and the shared purse in the first half of 2006.” Posted on: February 6, 2006
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