Drawing upon social capital theory and social exchange theory, this study attempts to elaborate the effect of social capital on community loyalty in a virtual community by proposing and assessing a tripartite-process model. Online gaming communities were selected as the research context for testing the model. After collecting 347 usable responses from a globally leading Massive Multiplayer Online Game (MMOG), this study confirms that a player's social capital in an online gaming community affects his or her community loyalty through normative, relational, and utilitarian processes. The results also show that resource accessibility has a positive impact on perceived game utility, which in turn affects community loyalty. Finally, we conclude with research limitations and theoretical and managerial implications.