888 Poker Revenue Down 34 PercentThird Quarter 2010 Poker Revenue At 888 Drops By More Than One-Third |
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888’s third quarter financial statement made for grim reading for its business-to-consumer (B2C) poker unit this week.
Operating income is down 34 percent to $8 million from $12 million in the third quarter of 2009 however the company said it was encouraged by the 3 percent increase compared to the second quarter of 2010.
The number of active customers in the business-to-consumer poker business fell 5 percent to 115,000 compared to the previous quarter while third quarter total operating income per active poker customer was up eight percent to $71.
In the nine months of 2010 to date, total operating income for B2C poker was down 28 percent to $28million compared to $39 million a year earlier.
The company said in its statement, “Trading during October was stronger than the third quarter across all business lines. Average daily revenue increased by approximately 6%, led by poker showing a more than 16% increase.
“We are pleased with the results achieved during the third quarter. Our business showed resilience during the historical seasonally weak summer period, with growth in Poker. The fourth quarter has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year.”
Total operating income across all business units, including casino, sportsbook, and bingo, remained stable compared to the second quarter of 2010 at $61 million.
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