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888 NGR UP 23 PERCENT
Gibraltar-based online gambling group 888 Holdings plc has turned in another positive third quarter result, presenting a rise in net gaming revenue of 23 percent to $66 million despite the worsening economic conditions. Online poker revenues remained stuck at last year's Q3 figure of $19 million, but casino NGR reached $34 million, up 18 percent. while NGR from emerging offerings such as bingo rose 121 percent to $12 million.
Operating income for the quarter was up 24 percent at $68 million.
Operational highlights included the launch of the Littlewoods online offering under a strategic partnership with Sportech (see previous InfoPowa reports). Pacific Poker was also augmented by the introduction of four new languages, while 888 also ran a successful UK bingo TV campaign, and launched 888sport in Germany and France. The period saw a number of new games integrated onto the 888 platform.
888’s Q3 performance boosted cumulative NGR for the nine months to 30 September by 31 percent to US$197million, with total operating income YTD up 33 percent to $203 million.
The company said that trading during the traditionally weaker summer months of July and August was solid with total operating income in August growing above July's level. In September, however, global economic conditions and sharp exchange rate movements resulted in lower turnover than August. However, the company said that trading during the first nine days of November had been better than October, driven by casino and bingo, “...with an increase of approximately 8 percent above October”.
Gigi Levy, CEO of the group said: “Our underlying business remains as solid as ever, as demonstrated by the constant deposit size by local currency. Despite external adverse economic conditions we are confident in our business model and strategy. Our firm foundation of B2C earnings will be complemented by our growing B2B line of business which will be an increasingly large contributor over the medium term. We look forward to delivering growth this year and beyond."
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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