bwin.party Poker Revenue Remains StableFull Tilt Poker Closure And Italian Market Help bwin.party in Third Quarter 2011 |
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bwin.party digital entertainment plc today announced third quarter poker revenue of €52.3 million, up three percent on the second quarter of 2011 and down only marginally against the £52.5 million recorded in the third quarter of 2010.
This is a welcome rebound from August when the company announced first half poker revenue in 2011 fell 11 percent to £104.9 million from £116.5 million in the first half of 2010.
Active player days fell 10 percent in the third quarter to 8.5 million compared to 9.4 million the previous year. The company said this reflected, “…the challenging competitive conditions in global dotcom poker, the seasonal decline in player activity was partly mitigated by a strong performance in Italy and the interim closure of Full Tilt on 29 June.”
Yield per active player increased 11 percent compared to the third quarter of 2010 to €6.2.
The company also said in its interim report, “Our position in both Italy and France remains strong with an estimated combined market share of over 15% in both markets.
“Taken together, the net impact of these movements was that average daily poker revenue increased by 2% versus the previous quarter to €568,500 which was marginally below that achieved in the same period in 2010 (2010: €570,700).”
Commenting on its strategic approach to the potential opening of U.S. markets, the company said, “On 1 November 2011 the Group announced its strategy with regards to the US real money online poker market should suitable legislation be enacted at either a federal or state level.
“Central to that strategy is the execution of an extensive collaboration with two of the leading land-based gaming operators in the US: MGM Resorts International (‘MGM’) and Boyd Gaming Corporation (‘Boyd’). The Group is also planning to commence a preliminary suitability review process with the Nevada Gaming Control Board.”
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