Everest Poker Revenues Up Seven Percent Last Quarter

GigaMedia, the publicly-quoted Asian online gaming operation, saw revenue at Everest Poker grow 7 percent, year-on-year, in the third quarter of 2008 to $23.5 million. However, compared to the previous quarter revenue fell 14 percent.

There were 176,000 active depositing players during the third quarter 2008, this was down 8 percent on the previous quarter which the company says reflects the traditionally slow third quarter of the year.

New depositing real money players expanded 8 percent from the previous quarter to 38,000.

Overall the company, which recently integrated its casino and poker platforms, saw revenues increase 16 percent to $45.7 million compared to the same quarter in 2008 but this was 7 percent lower than the second quarter of 2008.

Arthur Wang, CEO of the company said, "The financial turmoil has created many concerns, many fears. Nevertheless, the fact is we continue to run a high-growth business generating high levels of free cash flow and look to an even better 2009 supported by a strong balance sheet and cash position with no net debt."

Post a Comment

Messages that harass, abuse or threaten other members; have obscene or otherwise objectionable content; have spam, commercial or advertising content or links may be removed and may result in the loss of your Card Player Account. Please do not post any private information unless you want it to be available publicly. Never assume that you are completely anonymous and cannot be identified by your posts.

 

Your Comment

 

 

Have an account? Please sign in.

User Name:

 

Password:

 

Remember Me

 

OR

 

Lost User Name or Password?
Need an account?

 

Get More Poker News, Interviews, and Strategy

Most Viewed Articles