888 revenues soar 13%
Strong Q2 performance helps operator post positive growth figures across all verticals in first half of 2014
888 Holdings this morning posted a 13% year-on-year rise in H1 revenues to US$225 (£133m) after the operator enjoyed a strong Q2 with double-digit growth in all verticals bar poker.
The operator’s Q2 revenues totalled $111m, an increase of 15% on Q2 last year, buoyed by bullish performances in both its B2C and B2B divisions, with the latter up 37% to $16m due to growing US operations and bingo.
888’s flagship B2C casino grew by 15% to $53m in the quarter while the operator’s emerging offering, which includes sportsbook, also rose 15% to $7m, primarily due to the World Cup.
In addition, 888’s recently revamped B2C bingo built on its recent return to growth as revenues leapt 17% to $12m. B2C poker edged up slightly from $22.5m to $22.8m, although was down 10% sequentially.
888 also revealed July’s trading was up 15% when compared to the comparative period in 2013.
“I am pleased to report that 888 has delivered another strong performance in the second quarter which, in combination with our very good start to the year, has once again resulted in record-breaking revenue for H1,” Brian Mattingley, 888 chief executive, said.
“This outcome has been driven by strong performances across both our B2C and B2B lines of business and is testament to our exceptional brands, technology, marketing and CRM systems,” he added.
As of 1 August, 888 had $118m of cash and cash equivalents and $56m liabilities to customers.
888’s share price was up 1.25p to 122p at the time of writing.