Online gaming provider 888 has reported performance in line with full-year expectations, with growth in sport and casino helping offset flat bingo performance and a decline in poker.
During the period running from January 1 to May 18, 2019, the group’s revenue increased by six per cent on a like-for-like basis (two per cent on a reported basis).
This performance has been underpinned by increased marketing investment and the release of the group's Orbit Casino platform, which together have driven new customer acquisition up by 20 per cent year-on-year.
In global regulated markets, sport was up 29 per cent and casino 13 per cent, while bingo was flat and poker declined 28 per cent. Growth in the UK continued, with revenue increasing by 18 per cent on a like-for-like basis (eight per cent reported). The vast majority of UK revenue has been generated by recreational customers.
Itai Pazner, CEO of 888, said: "888 has enjoyed a solid start to the year with strong momentum in casino and sport across a number of the group's major regulated markets.
“Whilst Poker has remained challenging, we were pleased to see an improving revenue trend in Q1 2019 against Q4 2018. In addition, we are very encouraged by a 20 per cent increase in first time depositors across the group's B2C business in the period; this reflects 888's outstanding marketing capabilities and is a key indicator of our growth prospects.
“As a diversified operator that owns its own technology, the board continues to believe that 888 has a unique platform to deliver continued growth in the dynamic global online gaming industry."
