The fall reported in 888.com’s net gaming revenue from poker from 2008 to 2007 was two percent less than first predicted (4 percent instead of 6 percent). This was a decrease from US$80.8m in 2007 to $77.2m in 2008.
888.com, the publicly quoted owner of Pacific Poker, saw revenue, numbers, and net revenue per poker player decline in 2008 with the slump most dramatic between Oct. and Dec.
Figures for the fourth quarter to end Dec. 2008 showed the most dramatic dips. Net gaming revenue for poker during this
period fell 19 percent to $17 million from $21 million in the same period of 2007 while the number of active customers dropped 7 percent to 158,557.
Net gaming revenue per active poker customer fell 16 percent to $107 compared to the Oct. to Dec. period of 2007.
This was despite the company’s poker client being released in 11 new languages including Japanese, Greek, Russian and eastern European languages.
However, it was not all doom and gloom for the Israeli-based operator with total operating income across all businesses up 21 percent to $263 million from $217 million for the full year. Casino continued to perform well, with revenue growing 13 percent for the year to $135 million.
The share price in 888 Holdings was down 4.75 pence to 107.75 pence at 12.24 p.m. on Monday March 30, 2009.
