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Pacific Poker Reports Revenue Increase Of 95%
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Pacific Poker is owned and operated by the publicly-traded online gambling giant 888.com, and they have just released incredible first quarter results that show the extent to which the online poker boom is still exploding.
888.com reported that their net gaming revenue was up a staggering 42% from first quarter 2005 earnings, weighing in at a hefty $84 million. But of even more interest in our opinion was the performance of their online poker room, Pacific Poker.
Pacific Poker reported an increase in revenue of 95% compared to the same period of time last year. The actual dollar amount was $39 million, or close to half the total earnings of the company, which traditionally made the bulk of their profits from casino-on-net, their online casino brand.
This corresponds with the figures we reported here for the final quarter of 2005, when 888.com unveiled the extent to which their growth was being driven by online poker. For the 4th quarter of last year Pacific Poker generated $36 million compared to $41 for the online casino, so that trend has certainly persisted.
The average poker player at Pacific Poker generated $162 in revenue for Q1. That just goes to show you how that barely visible rake accrues in the background.
We would say that Pacific Poker is arguably only the 6th biggest online poker room trading today, and we expect even more startling results from the true industry heavyweights like Party Poker, Poker Stars, and Poker Room.
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