Friday June 22, 2012 : BARRIERE POKER RECORDS LOSS
Heavy investment in platform technology impacts results
French company Francaise des Jeux and Groupe Lucien Barrière owned Barriere Poker reported a loss of Euro 29.8 million for a turnover of Euro 3.3 million over its fiscal 2011-2012 period it revealed earlier this week.
The news follows that of dismal results from the Betclic Everest Group.
According to Stephen Xavier, president of LB Poker, resources invested prior to opening in the French market in respect of product and platform technology were largely responsibile for the poor results.
A loss of Euro 14.3 million for a turnover of Euro 0.5 million was recorded in the seven months following the opening of the French market in the firm's 2010-2011 fiscal period according to iGaming France.
Barrière Poker has continued its focus on developing its technology platform which it says lacked stability until the integration of the fourth software version in March. The latest improvements have reportedly been well received by the French poker community.
A subsequent upgrade was released this month along with "My Poker Manager", a new multi-tabling feature.
"We are at the beginning of an investment in an industrial project. We can ramp up commercially and innovate in the product, " Xavier said.