888 Holdings posted 13% rise in yearly revenues to $225 million (£135 million) for its H1 2014 results.
The igaming operator said its record performance was driven by strong growth across B2C product channels, which accounted for $193 million of company revenues. 888 Holdings adjusted earnings before interest, tax, depreciation and amortisation rose by 27% to $49 million (£29.5 million)
The operator’s positive results were hit by foreign exchange rates which impacted pre-tax profits, which fell 4% to $34 million. 888 Holdings also noted that the profits had been affected by higher than expected losses from its US joint poker venture with Avenue Capital.
888 Holdings highlighted the performance of its mobile business division as its key growth driver. The operator further added that its poker business defied negative industry trends and sport betting revenues more than doubled thanks to the Brazil 2014 World Cup.
CEO Brian Mattingley commented on company H1 performance :-
“888 has delivered another excellent set of results in what has again been a record-breaking period for the business. Revenue growth has been driven by strong performances across both our B2C and B2B lines of business which reflects our exceptional brands, technology, marketing and CRM systems as well as the passion of our highly skilled team.
“We have delivered growth across all key product verticals, with Casino the standout performer delivering another period of double-digit growth. We are delighted by the turnaround of our improved Bingo business and 888sport has delivered an outstanding performance by more than doubling revenue year on year reflecting the strength of our re-launched offer.
“Whilst the outcome for the full year will be dependent on trading in the second half we continue to look forward with confidence as we further develop the business.”
888 Holdings Performance Overview