888? Great Growth Rate, Mate
Feb 6, 2013
Gambling operator revenues increase significantly thanks to mobile platforms.
Major online gambling operator 888 is proof positive that not all industries and companies are smitten by recession. The Gibraltar-licensed Israeli company actually saw its Q4 2012 year-on-year revenues jump by 7%, to the neat amount of USD 97 million. Annual figures painted and even sunnier picture with a 13% increase to close the year at USD 376 million.
Analysts and company sources agree that the main driver behind the late year growth was the earlier legalization of mobile casino games in Spain and Italy. These newly regulated markets proved to be lucrative for some of the online poker and casino operators, such as 888.
Success of course requires smart strategies and quality products. CEO Brian Mattingley believes that 888 has both. “Our success in Spain and Italy shows that we have the right product and technology led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories,” said Mattingley.
Attracting an ever increasing user base is a key factor in revenue growth for online gambling operators. Apparently 888 has been very successful in reaching that goal. The number of players on their online and mobile sports betting, casino and poker platforms hit the 13 million mark late last year, which is a massive 23% increase from the previous year.
Speaking of these developments as well as future plans, Mattingley underlined the importance of “successful targeted marketing campaigns, on-going focus on customer retention and increased investment in our mobile offering.”