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Gaming Media Group Revenues and profits both up
The London-based Gaming Media Group has posted solid results for year ended 31st October 2008, showing increased growth of 47 percent in online poker rake, and 57 percent in group revenues overall taking into account casino, bingo and TV advertising. Profit before tax has also grown by four times to GBP 1 million.
Management revealed that the group is adding around 10 000 registrations a month from across Europe in its poker business, PokerHeaven.com, with a conversion rate averaging 30 percent in its top 10 territories and group revenues in excess of Euro 1 million per month.
The group took the opportunity to announce the imminent launch of its new casino offering ‘CasinoJoy’ mid-January, with over 200 games provided by Cryptologic. CasinoJoy.com will fall under the group-wide affiliate brand, HeavenAffiliates.com, to be launched at CAP London on 29th January.
This (January) month also sees PokerHeaven.com launch “The Player Tracker”, its third consecutive game-management tool unique to the International Poker Network (IPN). The Player Tracker, unavailable on any other IPN site, will enable players to replay every hand in real time and benefit from poker tracking technology.
Media Gaming Group's television operations, The Poker Channel, which premieres the European Cash Game this month featuring 2008 World Series of Poker Main Event winner Peter Eastgate, expects to add Poland and Portugal to its distribution network in the first calendar quarter of 2009, taking it to over 16 million homes in 18 countries. The Poker Channel will also start broadcasting French, German and Dutch language versions of its shows in early 2009.
Crispin Nieboer, CEO for Gaming Media Group said “Our pan-European and localised approach, together with significant advances in our CRM infrastructure, has been key to the extensive growth in 2008. We forecast strong organic growth in 2009, not just from poker, but from our new casino and bingo products as well. We are also investigating more acquisition and joint-venture opportunities, where we can utilise our infrastructure to absorb similar businesses, and apply our lower CPA, higher conversion and player lifetime values.”
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