Online casino and gaming operator 888 have posted a 6 percent year-on-year increase in revenue in 2019, in its latest financial figures released this week.
The 6 percent hike in revenue has been recorded for a period between January 1 to May 18, 2019. However, there have been no exact revenue figures posted.
The gambling operator also asserted that sports betting and online casino games helped the company’s strong performance.
The major contributor to the increased revenue was the strong marketing initiatives taken by the company and also the launch of its new Orbit Casino. The company claims that these two helped them acquire more customers – almost over 20 percent year-on-year for the given period.
The company’s revenues from sports betting jumped by 29 percent, and its revenues from online casinos were up 13 percent when compared with the same period the previous year.
However, the online poker revenue fell flat as it dropped by 28 percent year-on-year. The revenue from Bingo games remained almost unchanged.
The 888 team said that they were confident that the company will meet its expectations at the end of the financial year.
888 CEO, Itai Pazner, said: “888 has enjoyed a solid start to the year with strong momentum in casino and sport across a number of the Group’s major regulated markets. Whilst poker has remained challenging, we were pleased to see an improving revenue trend in Q1 2019 against Q4 2018.
“In addition, we are very encouraged by a 20% increase in first time depositors across the group’s B2C business in the period; this reflects 888’s outstanding marketing capabilities and is a key indicator of our growth prospects.
“As a diversified operator that owns its own technology, the board continues to believe that 888 has a unique platform to deliver continued growth in the dynamic global online gaming industry.”