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

Rush Street Interactive Partners with Scientific Games for Pa.

Rush Street Interactive which is one of the most accomplished gambling operators in the United States has recently inked a lucrative partnership with global gaming solutions provider Scientific Games. The partnership is primarily geared toward providing top-notch gaming services to the nascent but rapidly growing online gaming market in the Keystone State. That said, customers […]

Penn National Gaming to Furlough 26K Workers and Sell Tropicana

On March 27, renowned gaming operator Penn National Gaming Incorporated announced that it would be implementing additional measures in a bid to mitigate against the impacts of the COVID pandemic. The company’s management stated that the moves were unavoidable particularly because of the uncertainty regarding when things will go back to they were. Therefore, there […]

Pennsylvania’s Online Gambling Revenue to Surge in March

The global gambling industry is one of the sectors that is feeling the pinch due to the effects of the global COVID-19 pandemic. In the Keystone State, things are no different with several retail gambling destinations having closed down temporarily as parts of the efforts to contain the spread of the virus. Even so, online […]

Pennsylvanian Man Wins Massive Jackpot While Self-Isolating

The COVID-19 pandemic is still here with us and most land-based casinos have already shut down their businesses. In Pennsylvania, efforts to contain the spread of the virus have become quite aggressive with calls for the shutdown of most social spaces including the casinos. Now, gamers have had to stay at home and this has […]

Pennsylvania Gambling Regulator Releases February Revenue Figures

On Wednesday, the Pennsylvania Gaming Control Board (PGCB) released the February revenue figures for the state’s gambling industry. Needless to say, the state has one of the most lucrative betting industries in the United States and this has been proven by all the previous revenue reports. According to the state gaming regulator, the existing 12 […]

Similar Stories in Gambling

Evolution’s Live Games Coming to Parx Casino in Pa. and NJ

Greenwood Racing Inc.-owned Parx Casino has been very busy extending its portfolio as it kicks off the new year. Recently, it integrated exclusive gaming content from Everi. As it turns out, that was just the beginning. Last week, the gaming operator announced that it has partnered with Live Casino supplier Evolution Gaming. The two intend […]

West Virginia Speeds Up Online Gaming Plans After Benchmarking in Pa.

It goes without saying that Pennsylvania is currently one of the most lucrative gambling destinations in the United States. In fact, it has grown so immensely that other states have begun to see it as one of the best benchmarks for their gaming industries. The latest state to consult with the Keystone State is West […]

eSports Betting Live in New Jersey, Where Next?

Last month, casinos and racetracks in New Jersey began taking bets on esports tournaments, a move that further expanded the already thriving sports betting industry in the state. Needless to say, esports is a multi-billion industry that has sparked a lot of interest among investors in several different sectors. Esports betting is, therefore, a very […]

PokerStars PACOOP Goes Live in the Keystone State

PokerStars debuted in the Keystone State’s online gambling market about a month ago and already is proving to be the leading online poker platform. As expected, the company has been working very hard to solidify its position as the leader in the online poker sector and its efforts are already being seen by Pennsylvanian poker […]