Online gaming giant Flutter, formerly Paddy Power-Betfair, parent company of PokerStars, reported declining online poker revenue in its Q3 trading update, down 16% year-over-year even after excluding the difficult Germany market.
Overall, it was a mixed bag of results for analysts, with robust growth in the US market and a growing recreational customer base marred by customer-favorable sports results.
In terms of online poker, CEO Peter Jackson told investors last week that the rollout of its “substantial” new rewards program should help retain customers and boost liquidity next quarter.
There has been a “very positive” response from customers on the new program, added CFO Jonathan Hill, who was confident it had “abated some of the decline” in market share.
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