888 Poker Revenue Drops 25 PercentFirst Half 2010 Financial Statement Sees 888 Poker Revenue Down By One-Quarter |
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888 Holdings, the Israeli-owned gaming operator which owns 888 Poker, today reported first half 2010 poker revenue down 25.2 percent to $19.6 million compared to $26.2 million in the first half of 2009.
No other key performance indicators were reported by 888 but the company said, “Trading in August has been significantly stronger than in July, with a double digit daily revenue increase especially in casino and poker. Boosted by the release of the new platform, Poker has seen an increase of more than 15% in revenue in August.”
Gigi Levy, Chief Executive Officer of 888, said, "Our business experienced a difficult first half against the backdrop of a challenging economic environment, with trading impacted by a number of factors including general online poker weakness, adverse F/X movements and, in relation to Poker and Casino in Q2, the FIFA World Cup.”
The first half of 2010 was a busy year for 888 in the poker market as it re-coded its poker client, opened an online loyalty store, received a license to operate in France, and acquired social gaming studio Mytopia.
Total operating income at 888, which also operates bingo, casino, sportsbook and a business-to-business unit, was up to $130.2 million in the first half of the year from $117.9 million a year earlier while profit before tax was down to $8.4 million from $14.9 million.
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