One of the leading global poker giants 888 recently reported a growth of 13% year-over-year (Y-o-Y) in its online poker revenue. It also recorded that it’s online poker revenues reached $14.7 million in the first quarter of 2021. 888 has also seen 10% constant currency growth.
888 cited its new Poker 8 platform and ‘Made to Play’ marketing campaign as the major contributors to its growth. The year 2020 also saw the brand’s poker revenue increase by almost 50% as compared to the previous years.
The operators revenue is generated from its B2C operations comprising casino, sports betting, poker and bingo. In Q1 2021, its revenue from B2C operations was up 67% Y-o-Y to $262.8 million. This growth included a culmination of all four product types within this segment, however, casinos remained its primary source of revenue which increased by 80%. The sports betting segment saw a growth of 68%, while poker and bingo increased to 13% and 16% respectively.
In terms of B2B operations, revenue rose by 27% Y-o-Y to $9.7 million. The B2B bingo and the US operations contributed largely to the B2B revenues in this quarter.
888 holdings, the Gibraltar-based public company owns many well-known brands under its name like 888casino, 888poker, 888sport and more. It is one of the listed companies on the London Stock Exchange and is also a constituent of the Financial Times Stock Exchange 250 Index.
Moving further, 888 believes that the company’s year-on-year trends will be affected by a tougher comparative period in Q2. It is expected so owing to the regulatory changes and the resumption of leisure venues and retails due to the easing of coronavirus restrictions in markets worldwide, 888 also revealed that it also expects to launch online poker along with its partner Caesars. The online poker brand will be launched under its partner World Series of Poker (WSOP). It is expected to launch in the first half of 2021 in Michigan and Pennsylvania.
Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by manifesting herself through words. Additionally, she adores indulging in drawing and DIY crafts.
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