Casinos.co.uk: Casino News Archive
Tuesday 18th October 2005
Empire Online Sees a Drop in Profits
PartyGaming’s bid to slow down their competitors by banning their rivals’ players from gambling at PartyGaming’s tables seems to be working, as Empire Online issued a profits warning today, one week after PartyGaming’s announcement.
Empire Online says their profits will be 10% less than expected for the year ending December 2005, following a fall in gaming revenues from Empire’s online casino, EmpirePoker.com.
“Since that date, the company has seen a slowdown in the rake generated by EmpirePoker.com,” says a representative from the company.
“The company now expects net profit for 2005 to be approximately 10% lower than consensus market estimates.”
In addition, Empire’s shares have dropped by 5% today.
Source:OnlineCasinoNews
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