Sportingbet, the group that runs online poker site Paradise Poker, has reported strong growth figures, in particular a large increase in gross revenues. Solid growth from Sportingbet will help make the future of the gaming industry as a whole appear more stable.

Sportingbet saw an almost six-fold increase in pre-tax profits in the first quarter of 2005 to $24.7 million compared to the previous year's Q1 profits of just $4.5 million. Paradise Poker profits, in particular, were outstanding, with an average rake of approximately $431,000 each day, compared to $229,377 in Q1 2004. The group attributes the increases to an influx of more than half a million new registered users on its sites.

Source:  Poker777 Staff

Friday, 02 December 2005