PartyGaming Releases Q2 Financial Report

PartyGaming, the parent company of PartyPoker.com, PartyCasino, PartyGammon, and PartyBingo, released its second quarter key performance report showing that the company continues to do well.

PartyGaming's poker net revenue averaged $2.7 million a day in the months of April, May, and June ($2.1 million in 2005), while its casino revenue averaged $800,000 a day, compared to $100,000 a day in the same period of 2005.

The group revenue for PartyGaming is up to $319.3 million, which is 49 percent higher than last year. The number of poker players who play with real money and contribute to rake or tournament fees is up to 14 million, which is 23 percent more than the same period last year.

In the second quarter, an average of 153,736 players played at the poker site each day, and in June, 501,587 different people logged on and played at the site at least once.

Poker revenue brought in $243 million, which was 21 percent higher than the same quarter last year, but was 6 percent lower than the revenue brought in during the first quarter of 2006.

PartyGaming has made a conscious effort to try to recruit more players from outside the United States, and it looks like it's starting to pay off because about 46 percent of the new real money signups in the second quarter came from outside of the U.S.

American players still account for about 73 percent of its poker revenue, but in 2005, that figure was closer to 85 percent.

PartyGaming's stock took a bumpy ride last week after the CEO of BETonSPORTS was arrested in the U.S. last Sunday. After bottoming out at 85.25 pence Monday, July 17, the stock rebounded to 104.5 pence a week later after the second quarter report was released.

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