Despite a Q3 earnings report that saw poker revenue decrease 27% over the same period in 2011, Playtech has announced that its split of iPoker into two tiers has been a success.
“Our Tier 1 partners are reporting a strong increase in revenue, and overall activity in the network has grown significantly”, said Playtech chief executive Mor Weizer. “We anticipate that such a network will prove attractive to our poker licensees and address some of the pressing issues that the poker industry faces.”
The network split in September was attractive to Betclic-Everest, whose migration to the iPoker network last week resulted in an increase in iPoker traffic of almost 15%, according to PokerScout. Betclic-Everest joined Paddy Power, Poker770, Titan, Winner Poker and bet365 on iPoker’s top tier.
Although iPoker recently lost one of the oldest skins around with the closing of SunPoker, the additions and subtractions of network skins are all part of Playtech’s plan “to ensure a better environment for our licensees and their players by incentivising them to further invest into the poker product.”
The Playtech Q3 earnings call showed overall profits rise 30% to €79.9 million. That boost was attributable to a 33% rise in casino games to €38.5 million, videobet revenue jumped 33% to €2.9 million, services revenue increased a mighty 38% to €26.9 million, bingo’s performance rose 17% to €4.4 million, and Playtech’s share in William Hill Online boasted a 50% increase from €8.6 million to €12.8 million. The only decrease was in Playtech’s poker offering. However, Weizer told Casino Choice that more skins should be migrating to iPoker shortly.
“I’m happy to say this initiative did not go unnoticed by well-established operators such as Betclic-Everest, as well as other well-established operators that Playtech is in discussions with,” Weizer said. “We expect to announce additional licensees in due course.”