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18

888poker Experienced Significant Income Growth in 2020

Tags: 888 Holdings, 888casino, 888poker, 888sport.
Posted on 18 February 2021 by "T".

As the entire world faced extreme challenges in 2020, that year was still a good one for online gambling as a whole. In fact, online casinos, betting sites, and poker rooms surprisingly saw a significant increase in traffic.

888 Holdings, the parent company of 888poker brand, has enjoyed a substantial spike in online traffic during the lockdown, and the markedly increased revenue allowed them to invest more funds towards ad campaigns, widen the range of their offers and create more tournament events geared to make their players happy.

Financial Highlights

In its financial report for the first half of 2020, 888 enjoyed an increase in revenues that reached over $36 million. For them, this is nearly twice more when compared to the same period in 2019 and even when compared to the last three years.

Group revenue increased 37% to US$379.1 million (H1 2019: US$277.3 million).

  • 888casino revenue increased 48% to US$260.0 million (H1 2019: US$175.4 million).
  • 888poker revenue increased 56% to US$36.1 million (H1 2019: US$23.1 million).
  • 888sport revenue decreased 1% to US$44.1 million (H1 2019: US$44.5 million); better than expected customer reaction to the gradual return of sports events in the summer with Sport revenue during June 59% ahead of the prior year.

CEO of 888 Itai Pazner commented, "888 has performed very well throughout the first half of 2020 with robust year-on-year growth in revenue and Adjusted EBITDA of 37% and 56% respectively. This outcome reflects the Group's continued strong levels of customer acquisition, general consumer trends towards increased use of online services especially during the COVID-19 lockdown period and 888's relentless focus on product leadership.

We recognized early on that the COVID-19 pandemic would have a material impact on the lives of our customers across many global markets and this required an appropriate response from 888. We were therefore quick to increase our vigilance on safe gambling and preventing gambling-related harm.

We are pleased with our continued progress in the US where revenue increased by 90% year-on-year reflecting the Group's outstanding B2C growth in New Jersey as well as strong performances from our B2B partners. We remain excited by the potentially significant medium-to-long-term opportunities for 888 in the US market.

888 is looking forward to delivering further product enhancements including the introduction of our new poker product across markets during H2 2020 and the launch of our proprietary sportsbook in the UK early next year. In addition, we are continuing to invest in safe gambling tools and will begin the roll-out of a new customer-centric safe gambling feature called the 'Control Centre' later this year that will offer customers an improved interface to help them understand better their gambling behavior.

As a result of the Group's continued momentum, as well as its strengths as a product-centric, responsible and diversified operator, the Board believes that 888 has a unique platform to deliver continued strategic progress during H2 and beyond."


‘Overwhelming Demand for Online Poker caught us Slightly Unprepared'

In a post-close trading update released on January 14, 2021, 888 Holdings announced that it finished 2020 on a high.

The revenue and active customer numbers for the month of December 2020 were some of the best they have ever seen, though the final figures won't be released until March 2021, according to the operator.

888 CEO Itai Pazner said back in the summer, "Poker was definitely the surprising vertical of the period, with many players shifting from physical poker games to online and a product that has a strong recreational nature and represents very good value for time spent on it.

We saw an overwhelming increase in new players and activity in poker, which caught us slightly unprepared and required us to upgrade and expand our poker servers in order to deal with increased levels of activity which we managed to do in a fast and efficient way."

Why You Should Check Out 888poker

There are many reasons why people all over the world play online poker, and here is a quick list that shows why you should check out 888poker!

  • More than 10 million registered members worldwide
  • New player sign-up every 12 seconds
  • Online gaming industry forerunner and pioneer of safe and responsible gaming since 1997
  • Big selection of games, high value tournaments and exciting live events around the globe
  • EU licensed and regulated

 

   

 


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33 comments on "888poker Experienced Significant Income Growth in 2020"

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» 888poker Experienced Significant Income Growth in 2020


 CALICUL20/02/2021 21:30:23 GMT
888 poker's strategy to attract customers is to offer quality tournaments. There is no such thing. The number of players increases when there are series of good games with more money. You can play here for some money, but not too big for moment.
 geseco1221/02/2021 05:53:47 GMT
Of course, in this pandemic, most of them were at home, they already took advantage of the moment to distract themselves, and that more than poker, which is a game of pure adrenaline, hopefully they will not bay and that the community continues to grow, of course the room will also have obtained income higher than other years.
 dule-vu21/02/2021 12:28:42 GMT
every site,no matter poker,casino,betting have growth in last year because of this whole situation with corona,same as 888 site,but to have this number of active players,they dont!even child would believe that they have 10 millions now,but ok,we all know how things go!you can see in almost every software what is number of players in that moment!
 godoy21/02/2021 16:30:59 GMT
With the pandemic, the mu, did not stay very at home and therefore had to invent many things to do with the world of poker was no different because after so much that there was now playing is no longer an obligation but fun for our protection ,lets go plaing

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I am a myth even more very passionate about casino games and slots so I am already eager to play this one because I love playing so much and I am always winning a lot of money with them I hope with this one I will also earn a lot to fill my money kkkkkk yes gogogog
 CALICUL21/02/2021 22:06:01 GMT
I played in 2018 and 2019 several real money tournaments. Many satellites and a few hundred games. 2020 i rarely participated in real money and i generally played only freerolls but a lot in majority and sport betting. It is good that there is profit, because it is a sin for this room to become a little one.
 geseco1222/02/2021 06:07:34 GMT
These success stories are important for those who are just starting out, they fill them with motivation, and help them to be constant in the games if you want to be better, last year different gaming companies have benefited and I believe both the room and the players they won.
 dule-vu22/02/2021 12:47:11 GMT
we will see what this year will bring to all sites and how much they will grow in 2021,especially if this corona situation will be for months and if people will not have chance to travel and to play!also 888 want to come on us market,so if they get licence,they will have such a big grow,much bigger then any other site!
 CALICUL23/02/2021 01:13:08 GMT
2021 can bring even more players or profit. The sports betting industry can grow, but 888 it needs to be fixed what went wrong in their lobby when we bet. Time is precious and they messed up that system. This thing is probably one of the reasons why bettors choose other sites.
 geseco1223/02/2021 07:55:45 GMT
Digital platforms have had an exponential growth in this global pandemic, since many people have been at home having fun with the computer, ahaha they did everything at home, but hopefully they never forget online poker, which is wonderful.
 rogan1100023/02/2021 13:19:20 GMT
I'm so happy for them.
I'm telling people for quite sometime now, they will be big opponent to poker stars. They just need to survive difficult time and stay persistent.
And They have the best rake back and bonus system
Go 888 Go 888
 dule-vu23/02/2021 14:01:07 GMT
well dont get me wrong,but I dont see how they will be big opponent to poker stars or party poker!they just cant be big enough as this two site and you can see this from prize pool at biggest tournaments and what they offer as promotion packages and loyalty program for players!maybe they will grow if they come to us market,but that will be only because other sites will not have licence there!
 CALICUL24/02/2021 12:14:35 GMT
888 has to insist more, if he wants to catch a good competition with a room like pokerstars. For now, I think they are surpassed by party poker and that's because they have many separate tournaments from the rest of the world. It's something partially closed because of the rules made by them.
 geseco1224/02/2021 14:30:09 GMT
The players choose the room that they like the most and that they feel that they are being benefited by the room and I believe that 888poker has had many merits to be where it is, which is to have many players in its rooms day by day, and I think they will improve more to maintain its stability.
 dule-vu24/02/2021 14:34:59 GMT
as I said,if they come on US market,they will have big grow and this will affect on all site,no matter is it poker or casino!probably somebody will pay big money to enter on their market and its question will this be poker stars or them,but who ever do this,he will make great thing!
but without this 888 will stay normal poker site,nothing so big as they say here!
 CALICUL25/02/2021 13:49:52 GMT
players choose according to the opportunities that exist in each poker room in majority of cases. Others prefer to play in something small for training and after that in the largest rooms. 888 is one of the best and it is normal to choose here.
 antonis32128/02/2021 19:25:23 GMT
It is not a surprise by all means . Is was expected the onlone gambling compamies to have more profits because of the lockdown . Some of these players of the gambling industry were ready for this increased number of players and online activity , some they weren't . The important fact is how much more revenue and profits every company has for the last year ,I think888poker went very well with very good results . And the last months it also had these celebrations with many freerolls , prizes in 888poker Smile
 CALICUL28/02/2021 23:11:01 GMT
888 can grow more if it continues with good promotions. It is important that they to gather many players from his 10 millions of customers... and to give them joint tournaments, not separate ones as it is at the moment. They will accumulate more customers if they have this strategy.
 CALICUL02/03/2021 00:33:35 GMT
on Saturday and Sunday i played a few freeroll games and won two dollars and 50 cents. Of course, this growth is not for people who wants to play only this kind of games. There will be other different games and we can earn more money now. Good luck, guys.
 CALICUL31/08/2021 18:19:44 GMT
they will probably grow again this year because they have made some fixes to the poker software. I did this today, but i have the impression that they did for other games such as casino and sports betting. Anyway, it is one of the most interesting platforms.
 CALICUL14/10/2021 12:41:37 GMT
What 888 Poker offers does not compare with other rooms and their results can be seen at the end of each year. I would like to have more luck in this platform, but so far it has not been possible. Even if i don't have great achievements here, it is a good place to play and to earn some money.
 CALICUL06/11/2021 19:45:20 GMT
the same thing is done this year because they announced a good profit in the first two quarters of 2021. Here the chances are good, and with some luck we can achieve much more. It is important to have skills or luck and the money can be obtained periodically. 888 is a place where it's worth playing.
 antonis32115/11/2021 01:40:17 GMT
Best things are yet to come in the new 2022 year for 888poker and 888 generally , as it seems they have taken very seriously some matters so as to improve the software , their promotions , the satisfaction of the players , and also the social media and the Twitch platform , so I guess we'll be hearing very good news in the next months and the next year for 888 Smile
 dule-vu15/11/2021 01:41:42 GMT
but they lose lot of markets,like this year!
 antonis32118/11/2021 23:20:21 GMT
There is a lot of competition in the gambling market , too many players want a share of the market , ofcourse gambling is about many billions of $$$ , so there is a lot to win , especially if you are a big business player , I think 888 is a big gambling company , might not be as huge as others , but still it goes well Smile
 CALICUL18/11/2021 23:20:30 GMT
the competition is very high of course, that's why we rarely win

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