888 Holdings get stronger in sports betting
Gibraltar based 888 Holdings recorded another good figures in the first half of 2015. The like for like revenue increased by 9% to US$244.9 million. It was possible partially due to a strong performance in the company’s just formed sports betting venture.
What is more, the sport revenue went up to 81%. The company says that it shows the quality improvement of 888’s sport product and strengthening brand. “This was aided by the launch of Sport into Spain in the second half of 2014 as well as a constantly improving range of markets and live bets for our customers to enjoy. Sport continues to offer a major growth opportunity for 888 both in terms of revenue and customer acquisition with the 888 sport brand increasingly recognised by customers as a premier sports betting destination”, they explain.
Brian Mattingley, Executive Chairman of 888, comments on the performance: “I am delighted to report that 888 has again delivered a very encouraging performance in the first half of 2015 driven by our quality brands, best-in-class technology and CRM expertise. Operational progress has continued with strong increases in active players and first time depositors despite the external headwinds of a new point of consumption tax in the UK, VAT in certain European markets and adverse currency movements.
“On a like for like basis revenue was up impressively by 9 per cent year on year driven primarily by sustained strong growth in Casino and exceptional momentum in Sport, which recorded a revenue increase of 81%. We have made further progress across regulated markets in Spain, following the introduction of mobile, Sport and, more recently, video slots and in Italy, driven by our mobile offering and new Casino content”, Mattingley adds.
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