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Poker Revenues “Weak” At Betfair

Online Betting Exchange Sees Poker Suffer In Third Quarter Of Financial Year

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Betfair, the UK-based online betting exchange and games provider, said poker revenue in the third quarter of its current financial year – Nov. 2012 to Jan. 2013 – was ‘weak’.

The company, which did not give a number for the amount of poker revenue generated in the quarter, said of its games division, “The UK business performed well with strong UK casino growth offsetting weak poker revenues. Overall games revenue, however, was affected by the impact of international regulation and was down 8% to £18.0 million (Q3 FY12: £19.6 million).

“In January, we launched the iPoker network on our ‘.com’ site, which includes our UK business. We will initially offer both the iPoker and Ongame networks before migrating all customers to iPoker from July.”

Overall the company registered a drop of three percent in core net gaming revenues to £81.8 million in the third quarter compared to £84.7 million a year earlier.