iPoker Revenue Down 33 PercentFirst Half of 2011 Sees Big Decline In Poker Revenue At Playtech |
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Playtech, the publicly owned parent of the iPoker network, today announced a drop in poker revenue of 33 percent between the first half of 2011 and the first half of 2010 – from €15.8 million to €10.7 million (a drop of 25 percent excluding the impact of the closure of the French offshore market).
The company saw revenue poker revenue at William Hill Online – its joint venture with William Hill – up 11 percent. During the first half of the year it did deals with Gala Coral and the California Online Poker Association.
The company said it its interim results statement, “The international poker market continued to be subdued for the first four months of the year, but then experienced a seismic change with the indictment of a number of leading US-facing operators in April. There has been considerable change in player activity and deposits following the subsequent suspension of the license of the second largest poker operator, as players sought to move their accounts to other operators.
“The clearest beneficiaries of this move have been leading operators with notable brands who have enjoyed considerable increases in new player deposits. Overall, the iPoker network has seen a material increase in activity as the poker market has become more balanced. In particular, our tournament volumes have been significantly higher in recent weeks and with the launch of Italian cash games in July there has been additional positive sentiment and activity.”
Overall Playtech, which also runs bingo and casino businesses, saw revenue up 18 percent to €76.3 million.
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