Recession? What Recession Says Online Poker Industry
March 31, 2009
With many of the worlds industries feeling the pinch due to the global recession one online poker room has stepped forward to prove not all industries have been hit.
888, the company that own Pacific Poker have announced that their profits have increased by 6% this financial year, totalling $48.6 million.
The company do admit that the last quater of the financial year has seen a decrease in profits, costing them 4% leaving the total increase at 6% instead of 10%.
With the company 3 months into the new financial year, they have seen a lower profit margin than they saw in the disappointing final quater of last years financial year.
The company still insist that the number of new players is “encouraging” for the new year, with new business plans already in the pipeline to improve their already high rated business.
With this in place Gigi Levy, Chief of 888 moved to tell the world that the company will pass through the recession unscaved:
Whilst remaining cautious in our outlook we are confident our customers will continue to enjoy our services and that the overall strength and resilience of the business will ensure we weather this turbulent period well.
Just as we managed to grow market share after the industry was hit by the closure of the US market, we are confident we will outperform the market in these challenging times and continue to grow our business.
It just goes to show that the recession hasn’t hit every industry in the world, but there are more casualties then there are winners here.
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