Leisure & Gaming Poker Revenue UpItalian Market Drives Strong Growth in Leisure & Gaming Poker |
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Leisure & Gaming Plc, the London Stock Exchange-quoted online gaming company, has reported first half 2009 poker revenue of €3.6 million driven by the strong performance of its Italian poker product which was launched in November 2008.
The Italian online poker market was partially deregulated last year allowing a number of companies to begin operating there.
Growth in the market has been rapid.
The company said in its financial statement that, “The growth of poker in Italy since the launch has fuelled an increase in customers and the amount spent by customers.
The poker offering has attracted a regular and loyal customer base that enjoys the chat facilities as well as the numerous tournaments.”
The report states that poker gross tournament fees now account for nearly half of Italian business volume.
Richard Creed, CEO of Leisure & Gaming, said, “Results for the first half showed good growth from last year and diversification both in terms of geography, in Cyprus and online in Greece and in terms of products with the launch of poker in Italy.
“The enormous success of poker in Italy provides more secure earnings, albeit at a lower margin than in sports betting and higher than expected volumes have continued through the summer months.”
Across all business units which includes sports betting, bingo, casino and skill games, the company made a gross profit of €4 million in the first six months of 2009.
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