Poker Revenue Down 36 Percent At SportingbetParadise Poker Proves Uncompetitive In Face Of U.S Competition |
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Sportingbet Plc has issued its financial results for the first six months of its 2010/11 financial year ending January 31, 2011.
Net poker revenue in the second quarter (Nov. to Jan. 2011) at its online poker business Paradise Poker was down 36 percent to £3.6 million compared to £5.6 million in the same period last year.
The company said the was as a result of, “economic conditions [which] affected our players and our product has proved uncompetitive compared to the poker sites that still accept US based players.”
“The poker market remains challenging as the environment is very competitive due to the large US-facing companies continuing to utilise their significant US cash flows and high liquidity to aggressively target the European region.”
In the six months to end Jan. 2011 net poker revenue dropped to £9.8 million to £7.1 million year earlier.
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