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Empire Online sales down after poker sale
Published: 2006-04-27
 LONDON (Reuters) - Internet gambling group Empire Online reported a slight decline in first quarter gaming revenues on Thursday, following the sale of its Empire Poker site, but said it now had up to $259 million (145 million pounds) for acquisitions.
Total first-quarter net gaming revenue was $21.1 million, compared to $22.5 million in the preceding quarter and $24.4 million a year ago.
Casino revenues nearly tripled year-on-year to $15.3 million, but poker revenues fell by 69 percent to $5.8 million, following the $250 million sale of Empire Poker to industry leader PartyGaming in February.
Empire said it now had $259 million of cash on its balance sheet at the end of the first quarter.
"The company now has the financial strength to diversify both its product and geographical exposure outside of the USA through value enhancing acquisitions," it said in a statement.
"Empire Online is actively seeking to acquire complementary gaming businesses in such areas as sports betting, skill-based gaming and soft-gaming niches such as bingo," it added. "
"In addition, the company is exploring further poker and casino acquisitions."
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World Poker Congress Planned for June
Published: 2006-04-27
LAS VEGAS – (PRESS RELEASE) -- The poker boom of the past several years is often attributed to two elements: the televising of live poker events, such as the World Series of Poker and the World Poker Tour; and the growth of online poker rooms, where anyone can learn to play the game without the pressure of other players across the table. But what do these two issues have in common? New poker players!
Research has clearly shown that players who learn to play poker online usually wind up in a live poker room of some description, while online poker rooms are used to finding new players who were first attracted to the game via the televised tournaments. But how do you best increase your business by using this ongoing synergy?
The World Poker Congress, scheduled for June 27-28, 2006 at the City Conference Center in Stockholm, Sweden, is the first conference to integrate the online and live aspects of the poker industry. With two tracks, one devoted to the online issues and the other addressing concerns of the land- based, live game, the World Poker Congress will bring attendees from each side of the equation to discuss the synergies and possibilities of the entire spectrum of the poker world.
"Online poker operators are facing increasing competition at all levels," says Sue Schneider, president of one of the conference organizers, the River City Group, the leading information provider for online gaming. "The World Poker Congress will highlight the strategies, products and services that will help any online poker room stay at the top of their game."
The World Poker Congress is truly a "must-attend" conference that will help to shape the direction and future of the poker world. The World Poker Congress will help your company develop strategies that create a brand and an attraction to gain new players.
"To be successful in the poker world, you must understand the challenges and opportunities," says Paul Dworin, publisher of Global Gaming Business and PokerBIZ magazines, the only magazines dedicated to the business of the poker industry. "The World Poker Congress will give operators and vendors a window into poker's future."
The two announced keynote speakers will offer more than enough advice to justify attending. Jeffrey Pollack, the first commissioner of the World Series of Poker, and Steve Lipscomb, president of the World Poker Tour, will deliver a keynote speech at the event. A full slate of conference sessions will be held on those two days. Attendees will be able to meet with colleagues at two cocktail parties, continental breakfasts, and networking breaks.
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