Online Poker Sites Affected by World Cup ~10%
Written by Roger S | Wednesday, July 7th, 2010
Online poker and gambling sites predicted that the World Cup would take away a lot of business from their casinos and poker room, but the effect is only being felt now as groups take stock. Some online poker rooms are even reporting that the World Cup has caused more damage than they previously predicted, with numbers of visitors down as poker try to compete with the excitement of the world’s greatest sporting event.
One such group is Party Gaming, which reported this week that while it had expected the 2010 FIFA World Cup to have an impact on its business, it did not think it would as drastic.
Speaking about trading numbers that were published on Monday, the group said that while the World Cup had a good effect on the sports betting industry in general (due to the unpredictable results of many of the matches), it was clear that the poker industry took quite a hit.
“Poker has been particularly tough, with the number of daily average players expected to fall by between 8% and 10% versus the first quarter, coupled with lower yields due to reduced frequency of play on the back of both seasonality and the World Cup,” said Party Poker in a statement.
The group said that, as a result, it expects its poker revenue to be down between 11 and 13% quarter on quarter (in Euros).
“Whilst the relatively unexpected results in the World Cup football games played to-date have had a favorable impact on sports betting margins in the period, the adverse impact on our other product verticals has been greater than expected,” said the group.
Summing up its financial results, the group said that the group had, overall, performed in line with expectations “even though the adverse impacts of the World Cup on our non sports betting verticals was slightly greater than expected.
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· Written by Roger S · Filed Under Poker Gossip · Comments Off
