Sportingbet’s Poker Revenue Falls 18 PercentParadise Poker Revenue Drops to €17.7 Million Due To “Challenging Market Conditions” |
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Sportingbet Plc, the online gaming operator which owns ParadisePoker.com saw its full year (to end July 2011) gross poker revenue drop 18.5 percent to £17.7 million from £21.7 million last year.
Net gaming poker revenue fell 23.5 percent to £13.3 million in the same period from £17.4 million.
The company said it was operating “in challenging market conditions, despite the closure late in our financial year of the US facing businesses of some of our competitors.”
Poker makes up 8 percent of total group gaming revenue.
Overall Sportingbet, which operates a sportsbook and casino products as well, saw group operating profit jump from £7.1 million to £24.4 million in the year to July 2011.
The company said it is in continuing talks with Ladbrokes which is interested in taking it over.
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