Although 888 Holdings have not gained great success in the field of poker, they have maintained a steady position in the industry and have come up to the second largest position in the poker world (although its name comes after Amaya with a huge margin difference).
From the annual financial results of the company that released on Tuesday, it was revealed that the revenues of 888 are generally flat, because the revenues of 2014 that was $93.7 million and revenues of 2013 that was $93.6 million are compared then we do not find much of a difference in them.
It is very difficult to stand in the same position while passing through tough times of online poker. It is good for the company’s reputation. This is the reason why it became the most important player in Europe and also in the rising online poker markets of the United States.
Brian Mattingley, the CEO of 888 Holdings said that, the main product of their casino has given excellent performance in this field which reflects the position and tradition of the company in this sector. At the same time in the Poker Scout global rankings, 888 Poker has permanently fixed its position at number two at the year end. The terrific revenue growth of 115 percent from 888 Sport was the best part of 2014 and in the future, the company will experience more electrifying growth opportunities from this field.
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888 comes forward and holds the second largest position in online poker sites
Poker Star is the one and only undoubted leader of online poker traffic. In accordance with the recent figures of Poker Star, Poker Scout has earned 18,000 real money cash on an average from the game players within a particular time over the past week and they have the highest number of players that measure up to around 30,000.
888 Poker has held back its position in the second place, rising ahead of the existing second place holders such as Full Tilt, iPoker Network, Bodog and the PartyPoker.
PokerScout shows the recent seven day cash game traffic of 888 pokers at an average of 2,500 players. This average is far ahead from both the iPoker and Bodog, whose average is somewhere around 1,800.
It does not consider some of the distinguished market of 888, such as the site that is operated from Spain or the combined business with Caesars of the United States. The USA operated business will be improved within a short span of time, as the 888 has powered new sites in Delaware and Nevada which will soon begin to share traffic.
Tremendous growth in revenues exhibited in the record breaking year
The revenues of 888 have grown in 2014 up to 14 percent that is $454.7 million. Revenue for sports betting and bingo has also increased but the revenues for casino has increased to its highest limit by 16 percent. Their Business to Business operations have also grown substantially, and the revenue earned in the year was 32 percent.
Mattingley told that 2014 has been yet another record breaking year for 888 as they have again exhibited tremendous trends of profitability and increase in the revenues.
On Tuesday, the stock prices increased due to the tremendous performance of 2014. Dividend of seven cents per share was also announced for all the investors. Mattingley also claimed that 888 might go for acquisitions in order to consolidate their steady growth in the coming days. This claim was quite surprising for the public because last month 888 was almost on the verge of being taken over by William Hill.
Mattingley confirmed on Reuters that they are in continuous hunt for new opportunities
Mattingley also admitted about the challenges that they may face in 2015 but he has shown confidence to tackle them with ease.
Mattingley sounded optimistic about their opportunities in the context of present regulatory changes. He was confident while he expressed his hopes about 888’s chances of recovering against the adverse situations like Point of consumption Tax in UK and value added tax in some specific jurisdictions. He was also confident about 888’s possibilities of overcoming the challenges in the foreign exchange movement due to the power of dollar.