Online poker and skill gaming operations have proved to be a winner for the giant Italian online gambling company Microgame (not to be confused with casino software supplier Microgaming), accounting for 60% of the firm's €1 billion turnover in 2009.
Releasing its numbers this week, the company reported a 151% year-on-year increase in full-year net profit to €11.8 million, well up from the comparative period's €4.7 million, following the partial liberalisation of the Italian internet gambling sector.
Revenues for 2009 were up an impressive 190% year-on-year to €248.7 million (FY 2008: €85.7 million.)
Microgame revealed that it has 60 operator licensees in Italy, and chief executive Fabrizio D'Aloia, said the company is now prepared for the launch of poker cash games and casino in the country, having modified its poker platform and signed a casino supply deal with Swedish software provider Net Entertainment.
"Cash game poker and casino games, also other new games such as virtual betting and betting exchange, will be introduced to the Italian market by the gaming authority. Microgame is ready to take these important opportunities since we have invested in the new games and entered several important partnerships, which will be announced in the near future," said D'Aloia.
He added that the significant investment in Microgame made by private equity fund Monitor Clipper Partners' late last year had allowed the company to embark on new and exciting developments. The network provider also inked a deal with Dutch television giant production Endemol for the production of television programming featuring live poker events organised by Microgame's People's Network.
Independent analysts say that over the last quarter Microgame accounted for nearly 30% of Italy's onshore poker turnover.
Source: InfoPowa News