888 Poker lost 25% of profits in 2019
Right before the seasonal rise of online poker, 888 Holdings published the financial reports of the first half of 2019.
Like almost all other large gambling holdings, everything is smooth referring to casinos and sports betting — the profit growth by 9% and 19% respectively.
But, talking about our area of interest, we can only say with a little optimism that the pace of decline in profits of the room is decreasing. Over the past year, it accounted for 37%. After five months of this year, they were projected at 29%, and the latest report shows a 24% figure.
The total profit of 888 Poker for the first half of 2019 was $24,1 million.
888 Poker has good results in reservations like Italy, where the revenue grew by 38%, although it must be noted that the room opened its doors just last year.
* Ratio of income from different areas of 888 Holdings
In 2017, 888 Poker was on the TOP3 in terms of traffic, only behind PokerStars and IDN, and had massive tournament series with almost $15M GTD, but it received only $42.5M in profits in the first half of the year.
Although the 888 Poker management shows some concern about the results, after the launch in April of Poker 8, we have not witnessed more steps from the room that could turn the current state of things.
Nevertheless, 888 Poker has all the necessary conditions to return to the TOP-5 of the world's online poker:
- Known worldwide as the official partner of WSOP;
- New poker client, Poker 8;
- A large base of amateur players with the possibility to expand it by attracting players from other products of the holding;
- Over ten years of experience on the market;
- Currently, TOP-10 in terms of traffic.
For the last item, we gathered information during a week on stakes from NL10.
Full ring tables are only visible at NL10 (11-16 during peak time). At higher stakes (NL20–50–100), only 2-3 tables are gathered.
As for the highest stake games, a few tables from NL1k to NL5k can be seen in the lobby. Interestingly, during some times we saw some FLH tables with bets $10/$20-$30/$60 with 2-3 players.
Thus, we can say the following about the traffic in 888 Poker:
- Almost all traffic focuses on micro limits (NL2–5);
- During the evening enough tables can be found from NL10–50 and partly NL100–200 to make 888 Poker the main room (combining regular tables and fast poker tables);
- 9-max tables are available up to NL10;
- Over ten tables are visible from NL200.
To improve the situation of the decrease in profits, 888 Poker need to learn from direct competitors — GG Poker network and partypoker, working to improve the poker ecology with amateurs and regs. Well, and finally complete the upgrade of Poker 8.
888 Poker does not lose its relevance as a poker room with a massive weak field to play, not only at low stakes.
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