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Betfair Poker Revenue Down 15 Percent

Active Players Up But Revenue In Decline at Betfair Poker in 2011

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Net poker revenue fell at BetfairPoker.com in 2011 (full year to end April 2011) by 15 percent to €21.9 million from €25.6 million in 2010.

This is despite the number of active players increasing 9.5 percent.

Poker makes up 6.7 percent of Betfair’s overall net revenue which was up 7.6 percent to €326.6 million in 2011 from €303.5 million in 2010.

Chief executive officer David Yu said of the trading situation in 2011“We are pleased with trading for the first eight weeks of FY12 for non-risk Sports, Games and Poker which is in-line with our expectations. Revenue in the more volatile area of risk Sports, however, is currently below expectations due to an adverse margin performance during May.

“As anticipated, Core Betfair revenue in this period is lower than the prior year comparative period which was significantly inflated by the World Cup and was the last quarter prior to the migration of our Poker product.”

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