888 has presented its 2019 results. As an advance, we inform the impact that our market has had on global accounts. According to this report, income in Spain reflects a decrease of 10%.
As stated in the Report, in Spain, revenue was US$60.9 million (2018: US$68.0 million) reflecting a 10% decrease in revenue year on year (5% decrease in constant currency). As a result, Spain represented 11% (2018: 13%) of total revenue. Casino FTDs in Spain increased 26% building a healthy customer base for 2020.
As previously indicated, the Group's progress in Spain was moderated by weaker Poker activity, which was impacted by heightened competition from operators that offered shared player liquidity with France (launched in 2018), which 888 did not participate in. The Group's subdued poker performance adversely impacted customer cross-sell into 888casino.
The Board remains confident in 888's prospects for Spain and, as described above, in July 2019 888 launched shared poker player liquidity between Spain and Portugal for the first time. We have been encouraged by the early signs and believe that this interstate network will inject increased momentum to 888's offering in the Spanish market in 2020. In 2020, the Group plans high profile tournaments; further product optimisation; additional new casino game vendors to support the cross-sell of poker players into Casino; and has confidence in the impact of Poker 8 within the Spanish market once launched.
Globally, the 888 Group ended 2019 with a record of revenues reaching 560.3 million dollars.
Final Results
18+ | Juegoseguro.es – Jugarbien.es
