888 experiences revenue jump

The online gaming operator 888 experienced an increase of 6% in group revenue from January 1 to May 18.

UK.- 888 Holdings has released its latest financial report, detailing its operations revenue from January to May 18. In the trading update, the online gaming operator revealed that group revenue increased 6% year on year. These results come even with a 28% fall in poker revenues.

The company said the continuation of strong trading momentum, marketing investments, and the release of its Orbit casino platform has led to a rise in like-for-like revenue and new customers growth.

For the period from January 1 to May 18, the company recorded 6% growth in constant currency adjusted like-for-like revenue and a 2% rise in reported revenue. New customer acquisition was up by 20% year-on-year. Furthermore, 888 said strong momentum continued across several regulated markets driven by Sport and Casino businesses, partly offset by bingo and poker.

Itai Pazner, CEO of 888, commented: “888 has enjoyed a solid start to the year with strong momentum in Casino and Sport across a number of the Group’s major regulated markets. Whilst Poker has remained challenging, we were pleased to see an improving revenue trend in Q1 2019 against Q4 2018. In addition, we are very encouraged by a 20% increase in first-time depositors across the Group’s B2C business in the Period; this reflects 888’s outstanding marketing capabilities and is a key indicator of our growth prospects.

“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.”