Online Gambling Firm 888 Reports Growth in Q1 due to Its Core Market Success
Apr 13, 2014
The rise in the core market success leads to direct increase in revenues for internet betting provider 888 in the first quarter of 2014.
The mobile casino firm posted revenues of $114 for the first three month of this year, which indicates an increase of 11% from the same period last year, as revenues stood at $103 million.
Business-to-consumer earnings also increased, as results showed an improvement of 7%, rising to $98 million in Q1 in 2014 from $92 million a year prior.
The primary division that earned the most business-to-consumer revenue, is attributed to their Casino business division of the mobile betting firm. It made $54 million in the first quarter, a rise of 14% from the year before.
Additionally, Poker was another high earner recording $25 million, equivalent to a 4% increase.
Bingo was the loser of the business divisions, but it nevertheless managed to shows a rise of 2%, posting $12 million in earnings.
888’s chief confident in business model
Brian Mattingly, chief exec of 888, believes that the company’s innovative approach to the business environment and great brands with diverse offers are main reasons for its recent success.
“I am pleased to report that Q1 was another strong quarter for 888, resulting in record quarterly revenue for the group.
“Our market-leading brands and excellent product offering, underpinned by our innovative marketing and CRM capabilities, has driven further growth in our core markets.
He further reiterated 888’s commitment to staying on track with current developments in the market.
“Furthermore, 888 continues to be well positioned to capitalize on positive regulatory developments.”