888 Credits Poker And Betting With Success
Posted on July 01, 2020 at 2:07am
During a recent interim trading update, Poker, Bingo, sports betting and online casino operator 888 Holdings reported a 34% daily average revenue hike during the period January 1st to June 23rd. The comparison was drawn with the same period in 2019, and it’s a revenue performance the operator now says it did not see coming.
So much so that 888 as recently as March issued its shareholders and investors with trade warnings over what it at the time predicted could turn out to be a messy couple of months on the revenue front. The operator’s recent expectations in terms of exceeded EBITDA (earnings before interest, tax, depreciation and amortisation) goals for the current year are a far cry from what the operator predicted earlier on this year.
And as for the sectors 888 says it believes to have been responsible for the unexpected revenue upswing, those are none other than a sudden online Poker boost brought about by a renewed interest in online casino games, and the slow but steady return of sports betting to the online betting market.
A Focus On Online
Year-on-year comparisons showing the aforementioned daily increase in the quality of the operator’s overall performance have proved a boon for business investments. And it’s a hike in performance 888 CEO Itai Pazner believes to the result of a combination of factors. Pazner in his official performance commentary referred specifically to a year-and-a-half long intensified focus on the acquisition of new customers.
An on-purpose shift toward online services as opposed to a division of focus on both land-based as well as online casino games has according to Pazner played a leading role in the operator’s boosted performance. And it’s exactly this intensified focus on online customer-facing games that has now led to the type of stellar performance posted by 888’s online Poker leg of business.
Sports betting proved a knocking of the surprise ball right out the park. The recent return of big sports leagues to seasonal play has boosted the sports betting industry in ways and measures unprecedented. The staggering result has been that of the sports betting industry putting up a better divisional performance in 888’s current books than what it did last year June.
What Days May Come
Pazner says he’s specially impressed by Poker’s recent performance. Recent successes, said Pazner, is to his mind proof yet again of the sheer value of offering online Poker to recreational as well as pro-players in a surrounding that is entertaining as well as completely safe and secure.
A priority placed on recreational players certainly did the job of attracting new business and revenue income. And it’s a focus Pazner plans on continuing all throughout the remainder of 2020 and beyond.
The operator giant did however also indicate a certain carefulness about what the future may hold going forward. Its commentaries on the recent interim trade report do lean in the direction of cautionary optimism. It isn’t yet clear what the full brunt of the current global health crisis can be expected to eventually be, but that the crisis will not let any online casino operator or business completely off the hook is pretty much to be expected.
But that 888 Holdings appears more than prepared to deal with whatever challenges may come in the best ways it sees fit, is also clear. The operator enjoys the support of a professional and capable team, leaving its future in the best of hands possible. And since it has already managed to beat the odds in so many ways, as well as having outperformed many of its industry rivals, the days ahead will likely get better instead of getting worse.