Paradise Poker Revenue Declines 30 PercentSportingbet’s Poker Business Shrinks As Overall Revenue Rises |
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Paradise Poker, the online poker business owned by Sportingbet plc today announced first quarter 2011/12 (Aug. to Oct.) poker revenue down 29.6 percent to £2.5 million form £3.5 million in the first quarter of 2010/11.
The company said this was in the context of “challenging market conditions, despite the recent closure of the US facing businesses of some of our competitors.
Poker now makes up six percent of gross gaming revenue. The company saw poker revenue drop 18.5 percent in the full year to end July 2010 to £17.7 million.
The company was in potential merger talks with Ladbrokes earlier this year but these were terminated in October.
Overall the picture was a little rosier for Sportingbet, which operates online sportsbook, casino, and games businesses, with total revenue up 17 percent to €59.9 million.
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