888 Holdings Hits Incredible Record Revenues for H1 2016
The governance of one of the world’s most popular online gaming operators and platform providers, 888 Holdings, has officially declared a record revenue performance driven by “outstanding casino and sports growth”.
Compared to H1 2015’s $220 million, the operator posted group revenues of $262 million, up 19%. Despite being affected by adverse currency movements of around $3 million, the firm’s record-breaking performance translates to a period EBIDTA of $38 million, compared to the $28 million in the same period last year.
Strong top-line metric growth sees the firm report H1 group profits of $27.8 million, up 39% when compared to last year’s $20 million.
The company recorded growth throughout all its core divisions, highlighting the strong performance of its casino product with active players in the 2nd quarter of 2016 up 35% year-on-year, driven by innovative CRM and premium content.
888 Holdings governance was pleased with the progress of its sports betting division which had hit period revenues of $25 million, boosted by the success of the Euro 2016 marketing campaigns.
CEO of 888 Holdings Itai Frieberger commented on the H1 2016 performance, saying that: “888 has delivered a very encouraging performance in H1 2016, resulting in a 19% increase in Group revenue to a record $262.0 million. This strong outcome was driven by outstanding momentum at 888Casino and 888Sport where we achieved impressive revenue increases of 31% and 63% respectively.
“In line with our strategic focus we have made further excellent progress developing 888 in regulated markets and have grown regulated revenue by 29% against the prior year, reflecting strong performances in the UK, Spain and Italy as well as 888’s recent successful launch in Denmark.”
“888’s continued success is built on our first class technology and core expertise in CRM, marketing and analytics. These strengths, along with the fantastic efforts of our highly skilled and dynamic team, mean that the business is in excellent shape to deliver long term sustainable growth.
Trading in Q3 has started well with average daily revenue until 27 August 2016 15 per cent. above strong previous year comparatives and 22 per cent. higher on a like for like basis. With this strong momentum the Board remains confident of delivering against expectations for the full year.”
888 Holdings will also be showcasing at Malta’s biggest gaming event of the year, SiGMA16. If you are interested in watching 888 and the other exhibitors at this iGaming summit in November, click here to register today.
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