Paradise Poker Revenue Down 17 PercentFirst Quarter Revenue For The 2010/2011 Financial Year Drops 17 Percent At Sportingbet Plc |
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Sportingbet Plc, owner of Paradise Poker, saw net poker rake down 17 percent to £3.5 million in the first period of its 2010/2011 financial year (Aug. to Oct. 2010) from £4.2 million in the same period last year.
In financial year 2010 the company performed well in the context of declining revenues across the European poker sector seeing revenue fall just 1.4 percent to £21.7 million in the year to July from £22 million the previous year.
The company commented on the decline saying, “Poker now accounts for 7% of Group revenues. The poker market remains challenging as the environment is very competitive, as large US-facing companies continue to utilise their significant US cash flows and high liquidity to aggressively target the European region.”
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