888 Holdings released its audited annual financial results for 2018 this week. The group reported decreased revenues for last years’ figures. Revenues were down by 2% to $529.9 million for 2018.
Despite decreased revenues there was positive momentum by the end of the year and the first quarter of 2019 with daily revenues up by 10%. Overall group grading showed improvements with about a 5% higher rate at constant currency when comparing to the previous year.
The full financial report included operational highlights with continued growth across several markets including the Continental Europe market. Other operational highlights include a year-on-year increase of about 16% for active casino players and first-time depositors increasing by 21%.
888 also reported its B2C Bingo revenues were down by 17% to $32.4 million. The group said its bingo revenues were influenced by the heightened regulatory analysis across the UK. A significant part of the groups revenues came from regulated and tax markets. These markets account for 70% of the total revenues earned.
Itai Pazner, 888’s CEO of 888 commented on the full financial report saying, “In my first report as CEO I am delighted to update 888’s stakeholders on the significant strategic progress made by the Group during 2018 and since the start of 2019.”