Betfair Poker Revenue Down 12 Percent

Monday September 05, 2011

Poker revenue at Betfair Poker was down 12 percent to £5.4 million in the three months to June 2011 from £6.1 million in the same period last year.

However the company was upbeat in its interim management statement, saying, "Poker revenue of £5.4m was slightly higher than the previous quarter, representing a fourth quarter of stability following the migration to the Ongame network in July 2010. Q1 FY12 was the final quarter to be affected by year-on-year comparisons to the pre-migration period."

Active players were also down 12 percent to 63,000 in the period from 71,000 a year earlier while average revenue per user was stable, falling just 1 percent to £86.

In financial year 2010, Betfair Poker revenue was down 15 percent to €21.9 million from €25.6 million.

Elsewhere Betfair, which operates an exchange sports book, bingo and casino businesses saw core revenue down seven percent to £80 million from £87 million a year earlier.