888 Holdings, one of the biggest firms in online gaming, has entered 2020 with style.
The group highlighted confidence in meeting EBITDA goals for 2019. 888 starts the new year “with good momentum across several regulated European markets.”
The company had an astounding second half of the year. Perhaps December marked the highlight of the last quarter in 2019. That is when 888’s revenue hit “an all-time monthly record.”
According to 888 Holdings, they owe the biggest part of the success to the growth of Orbit casino platform. Besides, the revenue in sport also grew significantly.
However, there has been a slight setback in poker sector. The situation mirrors the scenario in Q1 2019. In June 2019, 888 announced good results with a fall in poker. The firm has acknowledged the stagnancy in the poker market, but puts effort to make a change. Nevertheless, 888 is happy with the results produced by the new Poker 8 platform in the second half (H2) 2019.
At the same time, 888 is investing in new ventures. The company reported increase in casino in European markets like Spain, UK and Italy. Simultaneously, the company considered withdrawing from Germany.
Regarding Spain, the revenue there was influenced by the launch of competitors’ shared poker liquidity networks. In Sweden and Romania, however, 888 hit some new highs.
Itai Pazner, 888 CEO, said that 888 had delivered solid progress in the second half of the financial year.
“We are encouraged by the growth in new customers during 2019 with more than one million new customers signing up. In addition, we were very pleased to end the year with a record revenue month in December.”
In terms of sports betting offering, 888 obtained BetBright brand based in Dublin, Ireland. “The board remains confident of further progress in the year ahead,” Pazner concluded.
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