BUSINESS

Entraction Holdings springs leak in Q3 earnings

TAGs: Entraction Holdings, Q3 2010

entraction-holdings-q3-leakEntraction Holdings has posted rather dismal Q3 numbers, including a 22% drop in net sales and earnings down 62%. The company also reported a one-off loss of £922k due to “staff layoffs and expected customer losses.” Despite all these negative numbers, the Swedish firm’s poker network is currently ranked 12th on PokerScout.com, and Entraction’s CEO claims they’ve actually increased their liquidity over the past quarter.

Still, the downward momentum is becoming a trend, following the 31% drop in revenues and 30% drop in net sales the company reported in Q2. Then, like every other online poker company whose fortunes took a dive, they blamed the World Cup. What now? The NFL season getting underway? The Commonwealth Games? Wayne Rooney’s hooker scandal?

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