888 Enjoys 7% Rise in Fourth Quarter Revenues
Thanks to newly regulated markets and mobile devices 888 saw a significant rise in its user base last year.
Online poker and casino operator 888 has reported a 7% rise in its fourth quarter revenue thanks to increased usage of its mobile services in Italy and Spain. The fourth quarter revenue rose 7% year on year to $97 million while overall revenue for 2012 rose 13% to $376 million.
Brian Mattingley, the Chief Executive Officer of 888, said, “Our success in Spain and Italy shows that we have the right product and technology led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories.”
On the last day of 2012 there were 13.1 million registered accounts for 888’s Casino, Poker and Sports betting services, this is an increase of 23% from December 2011.
Mattingley went on to say that “the high performance is driven primarily by Poker and newly regulated markets and is leveraged by our recent successful targeted marketing campaigns, on-going focus on customer retention and increased investment in our mobile offering.”
According to Mattingley this year has started off well, he said that at the end of January 888 had $88 million of cash and cash equivalents and $48 million liabilities to customers.