Devilfish Posts Loss Despite Growth

23 February 2009
In the face of record losses in the second half of 2008, Devilfish Gaming continued on the path of growth, owing a particular debt of gratitude to its poker division.

The United Kingdom-based company named for David "Devilfish" Ulliott, a popular professional poker player in Europe, today released interim results for the six months to Dec. 31, 2008, revealing poker revenues of £237,599. In the corresponding period for 2007, which was only measured from Nov. 12 to Dec. 31, the company brought in £1,515 in revenues.

In addition, poker revenues for January 2009 rang in at 76,000 euros, and daily poker revenues are now exceeding 3,000 euros per day.

Yet, despite cutting its advertising and marketing budgets, and reducing its board to stay afloat in the current unstable economic environment, operating expenses created a loss for the company of £362,577, a record for the less-than-two-year-old company.

Thus, according to the company, the focus for now is on Devilfish Poker, its primary growth product, which now has upwards of 8,000 registered users, said a company statement. Other products, including more than 170 casino games, are being marketed as peripheral products.

The company said it was forced to delay the launch of its bingo product due to issues with third-party suppliers. It is now in talks with Entraction, the network on which Devilfish Poker relaunched in 2008, to set up a launch for Devilfish Bingo in 2009.

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