888poker Blames Market Withdraws for 2017 Revenue Decline - News : News
Published on
Update on

2017 proved to be quite challenging for 888 Holdings, something that was proven by the decline in year-over-year revenue that the company reported from 2016 to 2017. The company cited their withdrawal from Poland, Slovakian, Czech Republic, Slovenia and Australia markets among others to be the main reason for the decline. As such, if the now inoperative markets are taken out of the equation, 888 Holdings’ revenue decline comes in at only 1 percent in 2017. According to them, this demonstrates “the resilience of the brand and its continued appeal to recreational players.”

However, overall statistics in the full year report that was published last Tuesday showed that the poker operator’s revenue amounted to $77.9 million which represents a 7.7 percent decrease from the $84.4 in revenue that it earned in 2016.

In the report, the company’s officials quoted the Poker Industry Pro($) statement that read, “Poker experienced a challenging 2017. Performance was impacted by the group’s decision to withdraw from certain markets, in line with the group’s strategic focus on operating in sustainable regulated markets.”

The inclusion of the statement served as an assurance that the decision to withdraw certain key markets was a strategic move for the company and that the decline in revenue was expected to affect the bottom line for a short while before everything stabilized again.

On the bright side, the revenue report also happened to bear some good news for the 888 Holdings. For instance, the group saw a 22 percent increase in the average revenue per player for poker as well as a 20 percent increase in the average active player days. This can be safely considered to be a demonstration of the underlying market strength that the group has.

“The group remains focused on further enhancing the player experience on mobile devices and the Group’s BLAST product continues to prove popular with customers and drive activity.”

The group’s sports betting vertical also proved to be another silver lining and this is certainly bound to get better as the U.S. is on the verge of a landmark Supreme Court ruling that could bring legal sports betting to more states. 888 Holdings’ sports betting vertical posted a hefty 45 percent year-over-year revenue increase to $75.5 million which makes it a close contender of the number two position among the group’s products – the spot is currently occupied by poker.

Latest Headlines

Pennsylvania Land-based Casino Traffic Remains Low

The past year has been quite challenging for several businesses across the United States. Pennsylvania, like many other states, also suffered a huge blow to its economy. One of the biggest casualties in the state was the gambling sector. This was due to the closure of land-based gambling and entertainment venues as a response to […]

Record Revenue for Pennsylvania Casinos in May

The Keystone State’s online gambling sector has been through a lot since the COVID-19 pandemic hit. The worst of the pandemic is now behind us and the state’s gambling industry is already beginning to gain some level of normalcy. This has translated to very impressive revenues for the industry. The Pennsylvania Gaming Control Board (PGCB) […]

Barstool Sportsbook Coming to Pennsylvania Soon

Penn National Gaming, one of the most popular casino and entertainment operators in Pennsylvania is preparing to bring the first East Coast Barstool Sportsbook and bar. The operator plans to have this at its Hollywood Casino York, a mini-casino development that it will be launching later this year. Needless to say, this will be a […]

Pennsylvania Lottery Wins Commercial Gambling Lawsuit

While Pennsylvania is certainly one of the most vibrant gambling markets in the United States, there has not been a shortage of issues plaguing various aspects of these operations. Most of them have been relatively easy to handle but some have dragged out for quite some time. One of the most notable ones is a […]

Pennsylvania Casinos to Return to Full Capacity on Memorial Day

The past year or so has been incredibly tough for the retail gambling sector in Pennsylvania and the United States as a whole. However, after several months of speculation about when things could get back to normal, the country is finally ready to take things to the next step. One by one states have been […]

Similar Stories in Gambling

Pennsyl-MANIA Returns To PokerStars PA This Weekend

PokerStars Pennsylvania will be treating its customers in the state to some action-packed poker gaming thanks to the return of Pennsyl-MANIA, the largest poker tournament in the state. The event will be returning for the third time on Sunday, December 27 with a record-breaking guaranteed prize pool of a whopping $500,000. This is not only […]

PokerStars Celebrates Pennsylvanian Anniversary with Tournament Series

It has been one whole year since renowned poker operator PokerStars made its debut in the Keystone State and to celebrate its very first anniversary, the operator will be running a special PokerStars 1st Anniversary Series. The $1 million anniversary tournament series is going to offer Pennsylvanian poker players a chance to dive into a […]

WSOP’s Pennsylvania Launch Delayed Until Next Year

It has been about a year since online poker went live in the Keystone State. There were some pretty high expectations for the sector even though it contributes very little to gaming revenue. So far, the biggest development has been the entry of PokerStars, one of the biggest poker brands on the planet. Even though […]

DraftKings and NetEnt Extend Their Partnership to Pennsylvania

Renowned online casino content developer and supplier NetEnt has been pursuing some very ambitious expansion goals over the past year. The United States has been one of the markets where the company has had its sights set on especially considering the massive growth of the country’s online gambling sector. For this, the company has inked […]