888 Posts Impressive Q1 Results
The online gambling site 888 Holdings released their Q1 results for 2013 showing a surge in the number of active poker customers. 888 Poker now accounts for 26% of the company’s revenue stream, with the poker segment of 888 holdings now bringing in $24.4 million dollars to the company.
The reason for the increased revenues is a leap in active poker customers which is up 17% compared to Q1 2012. 888 now claims 474,000 poker players on its site. Furthermore, company executives say that the revenue growth in the future is poised to grow due to fluctuations in the rate of the Pound vs the US Dollar.
The company credited its rise in players to a successful winter marketing campaign including a bonus offers comprised of a $400 100% welcome match bonus that brought in thousands of new players If these new players are retained after their bonus is withdrawn, then 888 can expect a constant stream of revenue to boost its bottom line. 888 plans to continue offering their generous bonus offers to bring in both new players and entice others away from their current online poker room.
Looking towards the future 888 is getting its feat wet in the US state of Nevada where they recently obtained an online poker license. While their market share will initially be limited to poker players only in Nevada, this is expected to grow as legalized online poker comes to more US states. Although the US represents a huge chance for market expansion by 888 company executives don’t expect any profits before 2015 as it will take some time to get operations up and running.