Paradise Poker sold

2Tone · #1 10-29-04, 12:53 PM

for $300 million. So who is that is really getting rich off the poker sites? The owners, not the players. Even the best players aren't pulling down nine figures!

PShabi · #2 10-29-04, 01:10 PM

Well duh. You didn't think they were making pennies did you? It's a business. Good players make their money, but yeah, owning a site would be a little more lucrative.

eddo31 · #3 10-29-04, 01:15 PM

just think of how much income the rake generates for a site. and what are the actual costs of running a site? you have the up front costs of the rng and software development. but after that it is marketing, which is helped by word of mouth, customer service and software maintenance. i am probably forgettign some significant costs here, but in general sites like party and stars must be making a ton of money.

Penguinfan · #4 10-29-04, 03:03 PM

Just look at the Stars $200+$15, they get over 1000 players in that game most of the time now and reguardless of how you got your seat they are still taking $15 per player out of the pot, thats 15 g's right there, for 1 tournament. The rake these sites get is almost porographic, but I say good for them, they are providing us a service that we desperatly want.

GeoffM · #5 10-29-04, 03:30 PM

Precisely why you have to be good, in order to not only crush the table, but also to beat the rake. Tough to do in lower limits, and now I'm starting to question why I am in these games in the first place. I think it's time for a change.

Tuff Luck · #6 10-29-04, 03:56 PM

Yea, the profit made is amazing.

brokeagain · #7 10-30-04, 03:54 AM

well hopefully whoever bought it will bring it back to the top where it belongs

johnbaker · #8 10-30-04, 04:19 AM

300 million for an internet company... who bought it? im too lazy to click and read that article.... im guessing maybe partypoker bought them out lol

-jB

2Tone · #9 10-31-04, 01:29 AM

Nope. It was Sportingbet Plc. And based on Paradise's reported revenue, the price seems about right, crazy as that may seem.

junYUN · #10 10-31-04, 06:00 PM

300 million....pocket change.

Tilter · #11 11-01-04, 03:32 AM

300 mill. That is a tonne. I wonder how much Poker Stars would sell for?

eddo31 · #12 11-01-04, 08:51 AM

i love stars, but i wonder what party would sell for. 58k players at times? that is just ridiculous. and the fact that stars is known for the best tourneys, which i think generate a bit less in revenue than ring games and sngs do, i would guess that party is crushing the field in earnings.

would they approach the $1 billion mark? seems ridiculous, but if paradise is worth $300 mill, then it could be very possible.