888 Poker enjoys higher revenues during pandemicOctober 8, 2020 9:13 pm
888 Holdings, the owner and operator of 888poker, announced revenues for the first six months of 2020 earlier this week, which showed that the COVID-19 pandemic led to more players and higher revenues.
888 Holdings reported $379.1 million in revenue from January 1 to June 30, 2020. That is an increase of 37 percent when compared to the $277.3 million they reported during the same period in 2019.
[ Check out 888 Poker welcome bonuses and huge array of online poker action ]
The only form of online gambling offered by 888 Holdings that did not see an increase in revenue was sports betting, which had a one percent decline. That was to be expected considering sports all but disappeared for a few months at the beginning of the pandemic.
Online casino revenues were up 48 percent to $260 million, and even online Bingo, which has been a sore spot for 888 in recent years, saw an eight percent gain to $21.1 million.
The largest gains were made by 888poker. This was spurred by unprecedented growth in first time deposits which were up 104 percent when compared to 2019. In total, 888poker revenues rose 56 percent to $36.1 million.
888 Holdings chief executive officer Itai Pazner said in a release ““888 has performed very well throughout the first half of 2020 with robust year-on-year growth. This outcome reflects the group’s continued strong levels of customer acquisition, general consumer trends towards increased use of online services, especially during the Covid-19 lockdown period, and 888’s relentless focus on product leadership.”
Pazner also announced new product enhancement coming 888 in the second half of 2020. This will include an update and a new look for 888poker.
New and old customers of 888poker been enjoying their latest promotion 888poker Millions Superstorm for the last month. The largest online poker series in 888poker’s history kicked off on September 10 and runs until October 11.
There’s still time to play in the 888poker Millions Superstorm Main Event. Day 2 of the Main Event runs on October 11, but Day 1 flights are currently running and will continue to run until October 10. The Main Event has a $1 million guaranteed prize pool and a $320 buy-in, which may be too rich for many poker player’s budgets. However, there are also several satellite qualifiers with buy-ins starting as low as $0.01.