ParadisePoker Revenue Sees 10 Percent Quarterly DropPoker Revenue Falls As "Poker market remains highly competitive across Europe" |
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Sportingbet Plc, the publicly quoted owner of ParadisePoker, today announced its interim results for the second trading quarter ending Jan. 31 2009.
Poker revenue in the period was £5.3 million, down 13 percent from £6.1 million in the same period of 2007/08 while for the 
six months to Jan. 31 2009 revenue was £9.7 million, down 10 percent on the same quarter a year earlier.
In its statement the company said, “Poker now accounts for just 12 percent of the Group’s revenue, down from 15 percent in quarter two 2007/8. Poker remains challenging as the environment remains very competitive with large US-focused poker companies, in particular, using their significant cash flow and high liquidity to attract European customers.”
Last year ParadisePoker experienced a drop of 18 percent in poker revenue.
The company, which also operates online sportsbook, casino and gaming, saw overall net gaming revenue up 6 percent in the second quarter to £43.6 million from £41.2 million a year earlier while operating profit was up 35 percent to £10.1 million.
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