PartyGaming Plc., owner of PartyPoker.com, today announced a 54% jump in profits to $342.6 million in the first quarter (Q1) 2006, up from $222.6 million in the same period last year. The huge jump is due to a 23% increase in the number of new real money players who signed-up at PartyPoker.com during the first three months of 2006. Average daily revenue (excluding skins) for PartyPoker.com was posted at $2,869,414, up from $2,261,492 in 2005.
PartyPoker.com said 263,254 new real money poker players signed-up to compete on the site in Q1 2006, 39% of who were from outside the United States. In Q1 2005, 214,108 new real money players signed-up, with 16% listed as non-U.S. residents.
The firm also posted a 28% increase in active player days to 14 million from 10.5 million in 2005.
"I am pleased to report that we have made a strong start to 2006. The first quarter has seen continued strong growth in poker on the back of a record number of poker sign-ups," said PartyGaming’s group finance director Martin Weigold.
Revenue generated from its casino service, PartyCasino.com, also increased during Q1 2006, up from $12.3 million in Q1 2005 to $83.1 million. This was attributed almost entirely to the launch of the firm’s new blackjack service.