Casino and poker pushes 888 to highest ever monthly revenues

 
City A.M. Reporter
BRITISH online gaming company 888 Holdings said yesterday that first-quarter revenue rose 25 per cent as more people opted to use its services to gamble online amid an economic slowdown.

The company had 11.3m casino, poker and sport real money registered customer accounts as of 31 March, an increase of 23 per cent from a year earlier.

888’s consumer segment – its biggest division by far – grew revenues by 29 per cent to $83m (£51.5m) in the first quarter, boosted by its casino and poker brands.

888 said overall revenue rose by 25 per cent to $94m from $75m a year earlier.

Brian Mattingley, who was recently named chief executive, said: “Our focused strategy has led to another excellent quarter, driving March to the highest ever monthly revenues in the history of 888.”

The gambling company said trading during the first three weeks of the current quarter continued to be strong, with average daily revenue one per cent higher than the first quarter 2012.

Shares of London-listed 888 fell one per cent to 77.25p yesterday.