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Billions For The Making in Online Poker
Written On 4/8/11 By Jennifer Jearu :
Investment publication looks at the numbers
Prompted by the upsurge in US online poker legalisation attempts in recent times, the investment publication 'The Motley Fool' this week took a look at the potential numbers a legalised industry might expect.
Its conclusion? The potential in this segment is enormous.
The publication notes that the respected Forbes magazine estimates that Full Tilt Poker alone generated $500 million in revenue and $100 million in profit during 2010, and The Financial Times assessed 2008 online poker revenue as $5.9 billion worldwide.
"Since actual audited numbers aren’t available to us, we are left to make some educated guesses at what the impact might be," The Motley Fool observes, prefacing its table of possibilities covering 'modest' revenue of $500 million to a high end of $10 billion annually.
Exact margins are not known, so the analysis looks at EBITDA in the range of 20 percent to 40 percent, noting that there is very little depreciation in online gaming; unlike brick-and-mortar casinos, a considerable chunk of revenue would flow to the bottom line.
The table constructed shows very substantial numbers generated (see table at http://www.fool.com/investing/general/2011/04/08/online-pokers-enormous-potential-impact.aspx)
Major US companies, should they enter a legalised market, would probably scoop most of the rewards, the publication predicts, citing the importance of a critical mass of players and the concomitant need for extensive advertising and promotions, requiring substantial marketing budgets.
"If we take MGM Resorts as an example and assume it can obtain a 10 percent market share of a $3 billion annual market at 30 percent margins - that would add $90 million in EBITDA annually," The Motley Fool conservatively estimates, adding that this presents the potential to generate more EBITDA than the currently disappointing new land venture CityCenter.
"It’s unclear exactly how any regulation may play out," the article concludes. "But the opportunity for casino giants is enormous."
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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