We have a feeling 888Ladies are one to watch for this year, with the site earmarked as one of the fastest growing bingo sites around. And the ever burgeoning popularity of the 888Ladies of bingo are clearly making their parent company, 888 Holdings very proud. Seems like bingo is really hitting the bottom line, if the fourth quarter results of 888 Holdings are anything to go by!
888 Holdings Plc has just released their Q4 results and annual results for 2009. The company, one of the bigger gaming conglomerates that owns 888Bingo, 888Ladies Bingo and recently took over Posh Bingo and Wink Bingo seems to be yet another gaming company that thanks to online bingo has beaten the recession. Figures pointed to a massive 14% increase in total operating income over the last year. Part of that success has been attributed to Dragonfish, the B2B division of 888Holdings which supplies software to bingo companies like Costa Bingo, which has seen it’s annual earnings grow by a phenomenal 36% from the previous year and 13% from the previous quarter.
In November, Dragonfish signed a major e-Payments processing agreement with Linden Lab extending its offering beyond online gaming thereby increasing avenues of revenue and has really started to cement its reputation as one of the leading B2B network providers. Coupled with the end of year acquisition of Daub Media by 888 Holdings, which saw the company take the reins of runaway success Wink Bingo, it seems like the company are well placed for the next year, when the money from the Wink Bingo takeover will really kick in.
And it’s already beginning to show – according to the report, the first quarter of 2010 has started well for 888 and in the first five weeks of the year, the group average daily Total Operating Income is already more than 7% higher than Q4. As the online bingo market slows downa little, it seems like customer acquisition is still managing to maintain a steady rate for 888 Holdings, with new customer recruitment across the showing an increase of more 52%.
And then there has been growth at two of its big stars, with 888Ladies Bingo and 888 Poker showing an 18% increase in revenue as compared to quarter four of last year. The CEO of 888 Holdings, Gigi Levy, said , “We are pleased that the fourth quarter saw a return to stronger trading, with 14% top-line growth compared to 2008 and 12% quarter on quarter. Overall, trading during the quarter was strong across the business. Dragonfish continues its impressive growth, and in B2C Casino and Emerging Offering were particularly strong, with poker also returning to growth quarter on quarter.”
“Our positive momentum continues into 2010 and, supported by the successful Wink acquisition and our various business initiatives, we expect to grow the business further during the current year,” he concluded.
