Pacific Poker profits 'hit by Euro 2008'
Monday, 4 August 2008
Pacific Poker’s internet gaming company 888 Holdings have blamed the Euro 2008 football champions for the 10% drop in the company’s net revenue. The $20,000,000 during the second quarter of the year was the same as this time last year, but dow
Pacific Poker’s internet gaming company 888 Holdings have blamed the Euro 2008 football champions for the 10% drop in the company’s net revenue. The $20,000,000 during the second quarter of the year was the same as this time last year, but down 10% on the previous three months.
The company believe the slowdown was not specific to them though, instead believing the drop to be 'in line with general industry weakness during the Euro 2008 football tournament'.
The amount earned from each of their active customers was down 9% on the previous quarter, with each player netting the company $116 per head.
While the poker revenues may have been hit, the company did explain that general casino operations on the site has grown 1% compared to the first quarter of the year.
Chief executive Gigy Levy said: 'We are delighted with our second quarter results, especially given that we achieved sequential quarterly growth during a period which is typically seasonally quiet and throughout the Euro 2008 championship.'
