|Poker.com, a leading provider of online gaming systems, announced today that, based on preliminary estimates, it expects earnings for the third quarter of 2002 to be lower than projected. The company expects it's third quarter to be a loss of approx. $100k. The shortfall is primarily due to difficulties with its casino software provider. These difficulties have impacted the company in several ways, including: |
The sale of casino licenses have significantly declined
An Allowance for Doubtful Accounts of $250k had to be accrued for.
The problems with the casino software have now been solved with upgrades along with increased backend management tools and an integrated casino affiliate program.
The site also faces new competition from ‘robot free’ player to player poker games at Intercasino and Golden Tiger casino.