Entraction Poker Revenue Remains Healthy in Third QuarterEntraction Network's Poker Sales Up 36 Percent for Year |
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Publicly quoted Swedish poker network, Entraction, home to online poker rooms such as DevilfishPoker.com, today announced its interim report for the third quarter of 2009. The report looks at the time frame of Jul. 1 to Sept. 30 this year, and also looks at the year-to-date from Jan.1 to Sept. 30.
Net sales for poker for the year-to-date amounted to SEK 229.3 million (€22.1 million). This is an increase of 36 percent from 168.7 million for the same period last year.
The report stated, “Despite poker sales being adversely affected by seasonal variations in the third quarter, the figure was considerably higher than the previous year. The increase is largely due to existing partners increasing sales from new markets. Spanish sales virtually tripled, while Russian sales doubled, for example.”
Gaming surplus from poker is SEK 101.7 million (€9.8 million) for the third quarter 2009, compared to 80.4 million for the third quarter 2008. For the year-to-date the gaming surplus is reported to be SEK 328.8 million, compared to 227 million for the same period last year.
Other reasons given for the growth in poker include the expansion of the network’s tournament offering resulting in a 33 percent rise in tournament revenue quarter-on-quarter, and the introduction of 5 Card Omaha which is only available on Entraction’s network.
Entraction which also offers partners software for betting, casino, and bingo reported total sales for the third quarter of SEK 98.8 million which is a 15 percent increase from the 86.2 million reported for the third quarter of 2008. Operating profit was also up 19 percent from 10.7 million to 12.6 million quarter-on-quarter.
The report stated that earnings were “negatively affected by one-off costs of approx. SEK 2 million as a result of hardware problems” which Entraction is looking to receive compensation for from its hardware supplier.
Net sales for the year-to-date came to SEK 326.7 million, which is an overall increase of 34 percent from the 243.3 million for the same period last year. This increase is said to be mostly due to a rise in poker gaming, while the company has seen a decline in casino.
Looking forward, the company’s Chief Executive Officer, Peter Åström, said, “As a strong supplier in the poker sector, we have been particularly favoured by legal developments. In 2010, Italy will introduce licences for cash games, with France and several other European countries likely to follow suit. We are also engaged in talks with potential partners in the USA to ensure we are in position when the poker market is legalised in areas such as California.”
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