Poker Revenues Boom at Leisure & GamingBetShop.com Owner Seek Significant Growth in Poker Revenue |
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Leisure & Gaming Plc, the parent company of BetShop.com, today announced revenue from poker tournament fees jumped to €14.7 million in the fourth quarter of 2009, up significantly from the €2.7 million earned in the same period of 2008.
The company said the average weekly participation in tournament fees had grown from €0.8 million per week in the first quarter of 2009 to €0.9 million per week in the second quarter, before dropping in the summer holiday period to €0.8 million and then increasing again in the fourth quarter to €1.1 million per week.
Italy was the premier growth market for poker with the volume of sports betting and poker tournament revenues generated by Italian customers hitting €26.5 million from €18.1 million in the final quarter of 2008 comprising, the company said, “A significant growth in poker and a small reduction in sports betting.
Around 40 percent of sports betting customers in Italy now play poker and the Group has recruited over 1,500 pure poker players.
Chief executive Richard Creed said, "Poker activity in Italy has increased and now contributes 30% of net win, with weekly tournament fees of €1.1m.
Overall amounts wagered with the company hit €34.4 million in the fourth quarter of 2009, up from €25.6 million in the same period of 2008. Gross profit was down slightly to €1.8 million from €1.9 million a year earlier.
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