Poker revenue at Paradise Poker, Sportingbet’s online poker business, plummeted by 49.5 percent in the period Aug. 1 to Oct. 31 2012, the company’s first quarter of its financial year.
The company said the drop was, ”…reflecting the continued structural decline in on-line poker.”
It added in relation to its Spanish business, “…casino and poker have remained weak due to regulatory product restraints and competition, respectively.”
Poker revenue for financial year 2011/2012 dropped to £11.3 million from £17.7 million.
Overall across the business amounts wagered, total revenue, and net cash all fell during the period.
Sportingbet is in the process of being purchased by William Hill and Gaming VC.
