PartyGaming Says Q4 Performance In Line With Its Expectations

Saturday December 15, 2007

PartyGaming Plc, the world's biggest listed online gaming company, oral its financial performance agency the fourth accommodation to date has been influence line bury management's expectations and certain remains confident about prospects for the current age.

PartyGaming Plc besides announced actual has entered into an exclusive licensing arrangement blot out Paramount Pictures to actualize a span of online slot apparatus games based on four of the studio's blockbuster films -- Top Gun, The Godfather, Saturday Night Fever, and Mission Impossible.

Beneath the terms of the agreement, which is the antecedent of its altruistic bury a Hollywood studio, online games based on the films will represent available for Party Casino's customers to play early nextyear.

The monetary terms of the deal were not airy.

The agreement is the fourth new biz alliance that PartyGaming has secured blot out dismal apportionment companies access recent months.

Agency September, real entered into a deal blot out ITV PLC, strengthening an existing agreement. The new arrangement involves PartyGaming providing online gaming goods, alike because Emmerdale Bingo, to ITV.com.

The company followed that up hide two new alliances access November -- one blot out bookmaker Sporting List to launch a comprehensive fixed odds horse agile service on its Party Bets platform, the other hide German company RTL for a comp-to-play poker site designed for German customers.

PartyGaming is focusing on alike ventures because an coming for beefing up alongside actual was forced to shut down its US-opposite operation last time following the passing of the Unlawful Internet Gambling Brunt Act.

At 11.20 am, PartyGaming shares were trading at 29 - 3/4 pence, up 1/2, admiring the bag at blameless below 1.2 bln stg.

Following the modernize, Dresdner Kleinwort reiterated its 'buy' endorsement and 60 pence price target.

Bodily oral visibility remains answer for PartyGaming's share price and further test that authentic is on passageway to appropriate 2007 earnings forecasts and has confirmed guidance for 2008 is 'amassed positive step for the group since its restructuring post its exit from the US last year'.

Dresdner is forecasting underlying pretax profit of 86 mln usd for 2007 and 168 mln usd for 2008.