888 Shows Increased Turnover of 25% in First Quarter
888 Holdings, a gambling company based in the UK, has reported a 25% rise in online revenue in the first quarter of 2012 when compared to the figures of last year. In 2011, the company reported revenue of $75 million in Q1 which has increased to $94 million this year.
Increase in Number of Customers Key Reason for Exceptional Q1 Result
The rise in revenue can be attributed to the increase in customers at 888’s real money casino. According to figures on 31st March, a rise of almost 25% was reported as new customers registered at the site, bringing the number of player accounts to almost 11.5 million.
The revenue of 888′s casino real money brands has increased to $42 million, which is more than 25% of last year’s figures. Brian Mattingley, newly appointed CEO of 888 Holdings, stated that the company’s determination and innovative strategies have produced such exceptional results for the first quarter of the year.
888 CEO Keen to Enter US Gambling Arena
Mattingley added that 888 Holdings will continue to increase its investments in the US online gambling arena to make use of the benefits of the prospects of gaming markets that have relaxed gambling laws. According to Mattingley, 888 Holdings is set to offer real money online gambling in the US and is following the progress of its legislation process closely.
The CEO commented that it could be a while before federal law permits online gambling in theUSand so the company prefers to focus on gambling markets that are already open. Mattingley declared that 888 Holdings has started Q2 on a strong note with the average turnover of each day higher than in the first quarter. The company predicts the revenue will soon return to the recurring pattern, but is certain that results will continue to improve in lieu of its innovations and strategies in online gambling.
Q1 Results Testament of Mattingley’s Leadership
888 Holdings’ successful performance in this year’s first quarter was released merely weeks after Brian Mattingley was appointed CEO. The post was vacant for nearly a year after Gigi Levy made a sudden departure in April last year. Mattingley was appointed to the board of directors at 888 Holdings in 2005 and has been the Deputy Chairman since 2006.
Richard Kilsby, 888 Holdings’ Chairman, was delighted that Mattingley agreed to take the post of CEO. Kilsby is confident that Mattingley’s knowledge of the gambling industry and other strategic business areas will significantly benefit 888 Holdings.
Before joining the board of directors at 888 Holdings, Mattingley served as CEO at Ritz Bingo Limited. Subsequent to this, he was at Gala Regional Developments where he was Group Finance and Strategy Director from 1997 to 2003. He was later appointed CEO of the company.
