888 revenue increases to record $560.3m for 2019, although profit falls

[ad_1]

888 Holdings has reported a 6% year-on-year rise in revenue to $560.3m for 2019; a record high for the operator.

In its financial results for the year ending 31 December 2019, revenue from regulated and tax markets represented 74% at $414.6m.

The majority of its revenue – $530.5m – came from B2C operations, including $359.3m from B2C casino, a 13% rise, with sports betting up 12% to $90m, while B2B revenue was down 41%, to $29.8m.

However, adjusted EBITDA fell 14% to $92.1m, while adjusted profit before tax was down to $53.2m, a decrease of 39%.

Customer acquisition increased 22% to more than one million new players for the year. The UK was the operator’s best-performing market, bringing in $204.1m of revenue, up 20% from 2018.

888 CEO Itai Pazner, said: “Despite the headwinds of significantly increased gaming duties and challenging conditions in some of our global markets, 888 delivered a resilient financial performance during 2019 reflecting the strength of our unique combination of technology, compliance and diversification across regulated markets.”

Last month, the operator reported a rise in casino and poker activity during the lockdown period brought about by the coronavirus, but stated the group has traded above expectations, with year-to-date average daily revenue up 18% year-on-year.

[ad_2]

CasinoExpert – Honest Reviews | Trusted Casinos | Awesome Bonuses

Leave a Reply

Your email address will not be published. Required fields are marked *

New Casinos
4.3 rating
Win up to €500
Get a 100% up to €100 bonus
4.8 rating
Win up to €500
First deposit of up to €150
Deposit and get Weekend Free Spins!
4.0 rating
1000% Bonus + 120 Zero Wager Free Spins
4.5 rating
100% Bonus up to €500
4.5 rating
500€ + 200 Free Spins
Honest Reviews | Trusted Casinos | Exclusive Bonuses
Copyright 2019 Casinoexpert.club