Online gambling company sees revenue jump in Q1

Online gaming company PartyGaming saw its revenue jump 27% to $127.1m in the first quarter of this year.

Online gaming company PartyGaming saw its revenue jump 27% to $127.1m in the first quarter of this year.

The firm's interim management statement showed a strong performance in its casino, bingo and sports betting revenues. PartyGaming, which runs the PartyPoker and PartyCasino sites, plans to expand into France as soon as new regulations allow.

It also told Reuters it planned to expand its business in the US after politicians had made moves to legalise online poker. Online gambling is illegal in the US, but PartyGaming says it hopes other forms of gambling will be legalised after poker.

The company said, "As ever, continuing to grow the player base remains a key objective and a long-term revenue driver. The Group added over 245,000 new sign-ups during the quarter (2009: 199,200) a 23% increase over the prior year and 15% above that achieved in the previous quarter. This helped to boost the number of daily average players, which increased by 7% versus the previous quarter."

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