Online Poker site struggles in Recession
12th March, 2009
The recent economic recession has resulted in several businesses either being forced to close or seeing revenues fall. The online poker industry in particular has struggled with several firms reporting a significant dip in last years total revenues.
Party Poker.com is one of the leading online gaming operators. The site has announced its financial results for 2008, revealing how it's been hurt by the recent economic recession.
The Party groups core product is it's poker site, however this sector is feeling the the full effects of the economic instability. Poker revenues fell by 7% to $274m, partly as a result of weakened US dollar.
The numbers of new players signing up has also fallen by 22% totaling 445,000 members in 2008.
Evolution Securities spokesman, Ivor Jones said “The currency impact will unwind, new content will help drive casino business, B2B relationships will be announced,”
By Jamie
