Poker Revenue on the Decline at Sportingbet

Sportingbet, the online bookmaker, casino, and poker operator has recently released their financial results and there appears to be a decline in online poker.

Poker revenue has gone down by millions of pounds from 2011 to 2012 as the company puts the blame on the market conditions. It said this was “exacerbated by the significantly larger liquidity offered by a market dominant competitor.”

The following statement is posted in the Sportingbet site:

There is the medium-term possibility of significantly increasing profitability if the Australian Government regulates to allow betting in:play, online casino, games and poker. The Productivity Commission report in January 2010 recommended regulation of all products and the present Government has initiated a review of the Interactive Gaming Act. The final results of the consultation process and any proposed changes to the draft law have not yet been published.”

In looking forward, the company says, “Whilst the economic outlook remains challenging, our robust position gives us confidence for the current financial year.