PartyGaming, the world's largest listed online poker group, said profits for the full year are likely to be ahead of market expectations, after the company achieved its highest quarterly revenue since the signing of the Unlawful Internet Gambling Enforcement Act in the US in October 2006.
Group revenues reached US$120m in the fourth quarter of 2007, a 52 per cent increase over the same period in 2006. This resulted in full-year revenue of $448.2m, versus $324.7m a year ago.
PartyGaming said earnings before interest, tax, depreciation and amortisation would be slightly ahead of current expectations, buoyed by lower than anticipated costs and customer bad debts.
Analysts are expecting 2007 EBITDA of $104.5m, according to the average forecast of a Reuters Estimates poll of six banks.
