888 Reports Record $114m Revenues In Q3November 5, 2014 2:26 pm
Online gaming company 888 Holdings plc has reported its best performing quarter to date, with revenues rising by 22% to $114 million in the third quarter, compared to the same period in 2013. The latest impressive figure come on the back of strong Q1 and Q2 results which saw revenues rise by 11% to $113.8 million, and by 15% to $111.3 million, respectively.
Commenting on 888 Holdings’s solid performance in Q3, Chief Executive Brian Mattingley, said: “I am delighted to report that 888 has continued its strong performance in quarter three. This was driven by an outstanding performance from casino, reflecting our leading product and superior technology, as well as impressive growth in sport, our B2B business and bingo.”
Between July 1st and September 30th this year, 888 Holdings’s B2C revenues increased by 19% to $98 million, with the company’s casino business key in driving revenues forward, after posting a 23% increase in revenue to $56 million from $45 million in Q3 2013.
In addition, B2C Poker revenues were higher by 3% at $23 million as 888poker continues to hold its Number 2 position in PokerScouts’ online poker global liquidity rankings, while B2C Bingo revenues were also up by 9% to $11 million. 888 Holdings can now boast 17.3 million real money customer accounts across its casino, poker and sport platforms, representing a 16% improvement over the same time in 2013.
Also performing well was the part of the company which provides gambling products to other operators , which noted a large 41% improvement in sales to $16 million, as its bingo and US operations surged in popularity.
Looking ahead to the future, CEO Brian Mattingley, said: “We continue to build customer numbers, reflecting the core strengths of the 888 brand, our leading product offer and CRM systems. With our highly skilled and innovative team, we continue to look forward with confidence as we further develop the business.”
Following announcement of its Q3 results on Tuesday, shares in the company rose by 3.8%, and today are higher by 2.26% at 136p, giving 888 Holdings a market capitalization of around £481.03 million.