William Hill Poker Revenue Down 24 Percent
British Bookie Experiences Slump In Net Poker Revenue In Third Quarter
William Hill Plc, co-owner with Playtech of William Hill Online and William Hill Poker, saw net poker revenue fall by 24 percent in the third quarter of 2012.
The company did not report how much revenue poker contributed to William Hill Online but it is a significant change from third quarter 2011 when net poker revenue grew 14 percent.
William Hill Online, the company’s joint venture with Playtech, owner of the iPoker network, saw overall net revenue grow 18 percent with operating profit up 42 percent to £34.8 million.
Sportsbook turnover was up 27 percent, casino grew two percent and bingo expanded six percent.
William Hill has made an offer to buy Sportingbet, owner of Paradise Poker, in conjunction with Gaming VC and is considering buying Playtech out of its share in William Hill Online.
Sportingbet’s poker product has also suffered a huge slump in recent times.
William Hill said in its interim statement, ““As we announced on 16 October, we are progressing a potential offer in relation to Sportingbet. We are also announcing today that we intend to commence the valuation process relating to the minority share in William Hill Online prior to making a decision on this by the end of the first quarter of 2013.
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