- Net gaming revenue in PokerStars’ online poker product grew 38% in H1 2020.
- In H2, promotional generosity as a percentage of gross revenue increased to 28%, double the rate of 2019.
- “We know that when we invest in marketing and player generosity, customers respond over time.”
Global gaming giant Flutter plans to “reassert PokerStars’ leadership in poker” and regain market share from the competition after reporting a modest 17% growth in revenue in 2020 in its online poker division.
According to the operator, net gaming revenue in PokerStars’ online poker product grew 38% in the first half of last year, largely due to a surge of customer activity following stay-at-home orders due to the coronavirus outbreak.
However, in H2, revenue declined 6% year-over-year as a result of a compliance review leading to market withdrawals. During this time, it also invested in marketing and rewards.
“In August, we spoke about how we would need to significantly increase the level of investment in our PokerStars business, after years of underinvestment in technology, brand and product,” said Peter Jackson, Flutter CEO, in pre-recorded remarks ahead of Wednesday’s investor Q&A.
“That investment will be multi-year, and we will focus on stabilizing the tech platform, modernizing the poker product, simplifying customer journeys, and improving digital marketing capabilities,” he added.
