Playtech Sees Revenue Jump but Poker Suffers
Playtech saw total revenues jump by 30% in Q3; however, revenues from poker dropped by 27% in the same period and at €4.1m represent just 5% of Playtech’s income.
The effects of Playtech separating its poker network, iPoker, into two liquidity pools are not yet fully known.
A number of rooms have merged while others have left the network. At the same time the network received a boost when Everest abandoned its own software in order to gain access to the player liquidity in iPoker’s top tier rooms.
Since acquiring Everest’s French player base, iPoker has become the third largest network in the French market after PokerStars and Winamax.
iPoker initially struggled to gain traction in the French market, but since 90% of Everest’s players have stayed with the site, iPoker is likely to work hard to keep them.
However, in a trading update note accompanying the results, Playtech suggested that the impact of the player liquidity split strategy and the gain of Everest has been significant. The note said that daily activity for the first 37 days of Q4 is more than 17% above the same quarter last year and 3% above Q3.