Paradise Poker Responsible For A Third Of Sportingbet's Profits!
Although Empire Online is taking a hit on the London exchange, Sportingbet is laughing all the way to the bank and a major factor behind their huge growth this year has been Paradise Poker. In fact, Paradise is responsible for a third of the 40 million pounds in profit generated by Sportingbet. Compare that to a mere 8 million pounds of profit the previous year and you will soon see that online gambling in general, and online poker in particular still generate huge revenues, so long as they are operated by the right people.
Sportingbet acquired Paradise Poker eleven months ago in November 2004. At the time, the move generated a large amount of criticism, and many thought that the sports betting giants had overpaid for the online poker room. The move now looks both inspired and a pure bargain. Sportingbet's stock price has increased accordingly, and online gambling analysts have now revised their 2006 forecasts for the size of the industry, increasing those estimates by as much as ten percent.
