UK-listed online gambling operator 888 Holdings says its sports betting and casino growth is offsetting a serious decline in its online poker product.
On Tuesday, 888 issued a trading update covering its performance in the current year through May 18, during which revenue was up 2%, albeit up 6% on a like-for-like basis (at constant currency, adjusted for the migration of Cashcade Bingo to its own proprietary platform and the recent acquisitions of Costa Bingo and the All American Poker Network).
Sticking with those constant currency figures, 888’s sports betting revenue was up 29% and casino improved 13%, while bingo was flat and poker endured a 28% decline. 888 recently boosted its sports betting independence via its acquisition of BetBright’s sports betting tech platform.
888 CEO Itai Pazner acknowledged that the poker vertical “remained challenging,” but the pace of negative growth was slower than the 37% decline experienced for 2018 as a whole, so things are looking up, apparently.