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Poker: 2008 revenues down at Svenska Spel
Sweden's state gambling monopoly Svenska Spel has reported weaker online poker revenues in FY 2008, and declining group profit in the first quarter of 2009.
Poker revenues fell 3.6 percent to SEK 372 million (Euro 34.6 million) in 2008 from SEK 385 million in 2007, the monopoly revealed in its annual report. The company attributed the decline to less interest in Internet poker, reporting:
“Both Svenskaspel.se and the casinos offer poker games. The casinos arranged a number of popular poker tournaments in 2008 and poker interest in casinos continues to increase. The internet boom of the four last years has subsided, but the game is still popular on svenskaspel.se,” the company reported.
Online poker operators need not necessarily be discouraged by the general remarks concerning the online poker industry; Svenska Spel can only speak for its own involvement, and it is widely accepted that many Scandinavian online poker players are active at poker websites elsewhere on the Internet, something the monopoly would like to constrain.
Other key performance indicators from the report are:
* GGR up at SEK 22 800 million (FY 2007: SEK 21 716 million)
* NGR up at SEK 9 804 million (FY 2007: 9 598 million)
* Operation Margin down at 21.9 percent (FY 2007: 23.2 percent)
* Profit down at SEK 5 108 million (FY 2007: SEK 5 247 million)
* Headcount up at 1 720 (2007: 1 588)
Q.1 2009 group after-tax profit figures also showed a decline of SEK 133 million at SEK 1 238 million when compared with Q1:2008 numbers. The new CEO at Svenska Spel, Meta Persdottir, attributed the lower figures to recessionary elements and tougher competition.
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Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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