Everest holdem poker doubled profit for parent company
Giga Media Limited, the parent company of Everest Poker, yesterday compared with the Nasdaq announced that the 1st quarter 2007, due to the popular holdem poker room Everest Poker, very successful.
Net revenue for this quarter amounted to 8.5 million U.S. dollars (16 cents per share), a significant increase over the first quarter of 2006, in which the turnover amounted to 3.2 million dollars (5 cents per share). The revenue is in contrast to Q1 2006 from 18.5 million U.S. dollars to 36.1 million U.S. dollars.
Giga Media estimates that in the fourth Everest holdem poker
Poker Stars
Quarter of 2006 in terms of the number of players and revenue, grew by 50 percent.
For the Q2 is expected that the growth will be lower than in Q1. As a reason for the lower growth Giga Media has indicated that it is assumed that the economic hole summer are detrimental to the growth.
In early trading on the stock market immediately after the Giga Media Conference Call, the shares with $ 14.70 traded slightly lower. To close of the market, the market after news the company had processed, the shares recovered quickly and commuted at the $ 15.20 mark.
Everest holdem poker is in the recent past has grown enormously. According to holdem poker site Scout Everest holdem poker is now the 4th most popular holdem poker room on the Internet, which no players from the United States accepted. Everest holdem poker is only just behind the 3.Platzierten, the iPoker network.