Poker Revenue Drops at SportingbetPoker Rake Down Marginally in Sportingbet’s First Quarter as Market Remains Competitive in Europe |
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Bookmaker Sportingbet yesterday released its financial information for its first trading quarter from August to October 2009.
The company saw its online poker offering Paradise Poker generate rake of £5 million in Europe during the period, down 2 percent on the £5.1 million achieved in the same period last year. Net gaming revenue from poker was also down to £4.2 million from £4.4 million a year earlier.
Poker now makes up 9.4 percent of Group revenue, down from 12 percent in the same period of 2008.
In its statement the company said, “The European poker market remains very challenging as the environment remains highly competitive with certain large US-focused poker companies using their significant cash flows and high liquidity to continue to attract customers from companies not serving the US market.”
Overall the company, which operates sports book, casino, and gaming, saw net gaming revenue up 26 percent to £48.6 million.
Sportingbet joined the fast growing Entraction network in August.
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