888 Reports Hike in Revenue for Q1 2019
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Online gaming provider 888 has reported an increase in revenue for Q1 2019. During the period running from January 1 to May 18, 2019, the group’s revenue increased by 6% on a like-for-like basis. This performance has been underpinned by increased marketing investment and the release of the group’s Orbit Casino platform.
In global regulated markets, sport was up 29% and casino 13%, while bingo was flat and poker declined 28%. Growth in the UK continued with revenue increasing by 18% on a like-for-like basis. The vast majority of UK revenue has been generated by recreational customers.
“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 percent 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,” Itai Pazner, CEO of 888, said.
“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,” Itai Pazner added.
Source: Latest News on European Gaming Media Network
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