888 Report 6% Revenue Increase Despite Poker Sector Setbacks
Online casino and gaming operator 888 has published a progress report that recorded a 6 per cent increase in revenue for a period between January 1st and May 18th.
The gambling operator also asserted that their strong presence in the market is mainly due to revenues from sports betting and online casino games, which helped the company’s strong performance.
When compared with the same period the previous year, the results show that the sports betting revenues jumped by 29 per cent, and the revenues from online casinos were up 13 per cent.
Other major contributors to the company’s success are the strong marketing initiatives taken by the company and, more importantly, the launch of its new Orbit Casino bringing them a surplus of almost 20 per cent new players in comparison to the year before, where the percentage was only 13 per cent.
However, the company did experience some setbacks, mainly in the poker sector. According to the report, the poker revenue was 28 per cent lower in comparison with the same period of last year. The decline did not discourage the officials from 888 casino, who stated that the results are completely understandable considering the challenging conditions that emerged during this period.
Looking back at the final quarter of the previous year and the first quarter of this year, the company’s prospects look promising. Apart from their 6 per cent increase in revenue, they have managed to improve growth in several markets, the most successful one being the UK market.
The CEO of 888, Itai Pazner stated upon the release of the report that he firmly believes that this year is going to meet their expectations.
“As a diversified operator that owns its own technology, the board continues to believe that 888 has a unique platform to deliver continued growth in the dynamic global online gaming industry,” he said.
