Sportingbet, the online gaming company which operates ParadisePoker, today announced its full year results to the end of July 2008. Poker revenue in the period dropped 18 percent from £29 million in 2007 to £23.7 million in 2008. 
The company statement said, “Poker remains difficult in [a] slowing and highly competitive market. U.S. focused sites [are] using cash flow and liquidity to attract European players.”
Average daily rake fell from £67,707 to £65,018 in the reporting period — a drop of 4 percent.
Parent company Sportingbet posted strong results overall with net gaming revenue up 23 percent to £147 million with operating profit trebling to £22.7 million. This was largely driven by sports betting revenue which leapt 45 percent.
