Everest Poker has announced a steep drop in its poker revenues for the second and third quarters of 2009. The company, which was recently sold by its owners GigaMedia to Mangas Gaming in a deal worth $100 million, saw revenue in the second quarter fall 36 percent to $17.4 million compared to a year earlier.
Third quarter revenue fared no better dropping 33 percent to $15.8 million compared to the same period of 2008. This figure was down 9 percent from the second quarter of 2009.
GigaMedia said the drop reflected “the impact of the adverse economic climate in Europe.”
Active depositing real-money customers in the second and third quarters of 2009 were approximately 165,000 and 156,000 — down 10 and 6 percent respectively on the previous quarters.
The second and third quarters saw around 34,000 and 30,000 new depositing real-money poker players added, respectively, down 25 percent and 13 percent quarter-on-quarter respectively.
