Poker big Contributor to 888 Profits
This was published 31-08-2012Popular UKbased online gambling group, 888 Holdings, has revealed that poker has contributed to its increased profits, according to their half yearly financial report that was released to them on 29th August, 2012.
888 Holdings’ past reports had reflected disappointing performances from its online poker arm, 888 and the group was, therefore, very happy to announce that thanks to demand for the game, its revenues had increased by 72% compared to the same time period a year ago. This has resulted in numbers being brought up to $41.3 million.
The company holds a solid position in the newly regulated online gambling and poker markets inSpainwhich has resulted in part of 888’s online poker growth. The group currently dominates 26% of the online poker market inSpainand is second in size.
Brian Mattingley, Chief Executive at 888, revealed that online poker and other sectors in the company’s portfolio did well due to renewed focus on significant products and less emphasis on its business to business sector.
Mattingley added that the new management team reviewed the overall position of the company and put it back on track by concentrating on their principal competencies, namely casino, poker, bingo and sport.
The Chief Executive, speaking about the success of 888 Holdings’ online poker arm, said “Poker remains the star performer of the product stable… [with] active customer numbers up 63% in Q2 2012, this is in addition to a very strong increase of 90% in active customers in the prior year,” he said. “We continue to be ranked 4th in the top ten of global poker liquidity by PokerScout.com.”
The group has also revealed that it has signed a deal with Caesars Entertainment in theUnited Statesin terms of which it will promote a World Series of Poker branded online poker room outside theUnited States. It has also signed a deal with WMS Gaming in terms of which it will create an online poker platform
