There’s good news in the online poker world. Despite negative financial predictions and circumstances, many online poker rooms have reported positive financial numbers for recent quarters. Online poker is expected to grow over the next three years by 16%, surpassing its land-based counterpart.
First off, Playtech has reported a 78% rise over the last three months, due in part to their recent partnership with William Hill. They are expecting a good year in 2009. 888.com has also reported a gain, with net gaming revenues up 23% to $66 million. Also in the plus is GigaMedia, parent of EverestPoker.com. They’ve announced a 24% rise in net profits since the same period last year, for a $12 million profit increase. These guys also report that Everest Gaming is up 7%.
PartyGaming has seen a small decrease from a $117.7 million 3rd quarter revenue this year, dropping from $118.0 million 3rd quarter last year, but this is too insignificant to really be bad news, considering the conditions. They blame the US dollar for the drop. Last year, poker rev in the 3rd quarter saw a 15% decrease from $76.3 million to $65 million. Cryptologic also, over the last year, has reported a 3rd quarter net rev loss of almost $6 million and an all-time low for traffic. Cryptologic execs are optimistic, though, for 2009 when the expected partnership with Boss Media takes place.
PokerStars actually broke a record this week, when more than 30,000 players were playing cash games simultaneously on Sunday. This high number is attributed to the aftermath of Peter Eastgate’s recent WSOP win. So, while land casinos and other industries may be taking losses lately, apparently what gamblers are saving on travel expenses, they are spending at the online poker rooms. Online play is just more convenient and comfortable. A trip to a fancy casino will always be fun for vacation, but for everyday play, online poker is where all the action is.
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