VIRGIN GROUP AIMS FOR 5 PERCENT OF ITALIAN ONLINE
POKER MARKET
6 November 2009
Revenue sharing partnership with Cogetech
makes a good start
The UK-based online gambling group Virgin Games is
aiming for a 5 percent share of Italy's booming online
poker market within a year of its start-up, reports the
Reuters news agency, quoting the chief executive of
Virgin Games, Simon Burridge, this week.
Virgin's
online poker is operated in a revenue-sharing
partnership with Italy's Cogetech SpA, and the British
company sees the teamwork as boosting its chances of
success and keeping down costs.
"We are 'white
labelling' it on the back of Cogetech," Burridge
revealed. "It is a lot less expensive. Cogetech does
[player] registration and the banking. For Virgin it is
just a marketing operation and that is what it does
best," he said.
The Italian venture started in
"soft launch" mode in September 2009 and has already
signed up 8 000 Italian players, Burridge reported.
"After six weeks we are on target to take 5 percent
of the market after 12 months," he claimed. "The market
is Euros 200 million. So by December we are looking to
be [on] Euros 10 million. We are looking to break-even
in five or six months," he said.
Since its
approval just over a year ago, Italian online poker bets
have risen to Euros 221 million in September 2009,
Italian regulator AAMS data showed.
Italy's
Lottomatica SpA, Snai SpA and the unlisted Sisal are
among the principal operators of online poker.
Online Casino News Courtesy of
Infopowa
More news here.
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