UPDATE 2-PartyGaming confident on 2008, Q2 start seen weak

(Adds analyst quotes, comments on second quarter)

By Andras Gergely

LONDON, April 30 (Reuters) - Online poker and betting firm PartyGaming (PRTY.L: Quote, Profile, Research) said it was confident about prospects for the full year after 21 percent revenue growth in the first quarter, but analysts saw April sales figures as weak.

PartyGaming, which runs the PartyPoker and PartyBets websites, said on Wednesday revenue in the three months to March 31 reached $128.9 million, with poker revenue up 13 percent and casino revenue up 45 percent compared with a year ago.

Its shares, however, fell 5 percent as analysts said the outlook for full-year growth was not promising in light of disappointing performance in the first four weeks of the second quarter.

"They are down in absolute terms in the beginning of the second quarter, which means that their full-year revenue is going to look like a bit of a struggle," Arbuthnot analyst Paul Leyland said.

In the four weeks ended 28 April total average daily revenue fell 1 percent, reflecting the start of a seasonally quiet period, with poker slightly weaker than expected, but casino, which also boosted the first quarter, ahead of expectations.

"We remain confident about the group's prospects for the full year," Chief Executive Mitch Garber said.

Numis analyst Richard Carter said PartyGaming's trading update was "slightly disappointing" overall, but he reiterated Numis's "buy" recommendation for the stock.