Paradise Poker Revenue Down 33 PercentSportingbet Plc’s Poker Revenue Plunges |
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Paradise Poker, the online poker business operated by Sportingbet Plc, saw net gaming revenue fall 33 percent in the first six months of its financial year (to end January 2012) to £4.7 million from £7.1 million a year earlier.
The company described poker market conditions as “challenging”. Poker makes up 6.0 percent of gross gaming revenue.
Full year 2010/2011 net gaming revenue for poker was down 23.5 percent to £13.3 million.
Overall the company, which runs sports book, casino, and games businesses made a pretax loss in the trading period of £7.2 million compared to a pretax profit of £19.6 million in the same period of financial year 2010/11.
Paradise poker operates a live poker tour, the Paradise Poker Tour, and Sportingbet Plc was last year unable to agree terms in merger talks with betting behemoth ladbrokes.
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