888 Revenue Up 9% To $103m In Q1April 23, 2013 12:46 pm
Online gambling company 888 Holdings has released its financial results for Q1 ending March 31st 2013, revealing a 9% leap in revenue to $103 million compared to $94 million for the same quarter last year.
Accounting for the company’s impressive results was a strong performance in the Spanish market, complimented by increased business in Italy, after the government allowed online slot machine games to be offered at Internet casinos.
Breaking the figures down, overall B2C revenue rose 10% to $92 million; with B2C Casino revenue up 13% to $48 million year on year, B2C Emerging Offering up 27% to $8 million, and B2C Poker revenue up 15% to $24 million.
Commenting on the 888’s solid Q1 figures, CEO Brian Mattingley said: “These are a fantastic set of results across all key metrics. Our excellent product offering, supported by our constantly innovative marketing and CRM capabilities, has helped us to deliver consistent growth and has positioned us well to take advantage of positive regulatory developments.”
There would seem to be more good news on the horizon for 888, too, as the company prepares to launch online poker in Nevada in the coming months, possibly followed by the state of New Jersey, if 888 is granted a licence. However, initial expenditure on marketing is expected to obscure potential US results until at least 2015.
Finally, looking ahead to the next quarter, an 888 company statement said, “The second quarter has started in line with expectations where trading reflects the historical seasonal pattern. Daily average revenue during the first 20 days of April is more than 3% above April 2012. Our performance continues to be led by our core casino and poker products and we are continuing to experience increases in customer deposits, bets and first time depositors.”