Online gambling operator 888 Holdings posted today information about its financial performance during the twelve months ended December 31, 2015. Excluding the recently introduced EU VAT, overall annual revenue increased 2% year-on-year to reach $462.1 million. Including EU VAT, revenue totaled $472.3 million and rose 6% year-on-year from the amount of $390.8 million posted for the same period a year ago.
Excluding EU VAT, revenue from the company’s B2C business amounted to $402.6 million, up 3% year-on-year. Including EU VAT, B2C revenue increased 6% year-on-year to $412.5 million.
Including EU VAT, casino operations generated the total amount of $238.7 million last year, up 8% as compared to the figures posted for 2014. Poker contributed a total of $88.5 million to the overall revenue, down 6% year-on-year. Proceeds from bingo totaled $44 million, down 6% from 2014. Emerging offerings generated $41.3 million, representing an increase of 38%.
The company revealed that revenue from regulated online gaming markets accounted for 59% of the overall turnover it generated over the past calendar year. In addition, mobile continued to grow last year and represented 47% of the revenue posted by the gambling operator’s UK B2C division.
Revenue from 888 Holdings’ B2B business amounted to $59.5 million, down from $63.9 million posted for the twelve months ended December 31, 2014. The decrease was attributed to adverse currency movements.
Adjusted EBITDA decreased 20% year-on-year as a result from a number of regulatory changes introduced within the European Union in 2015. The amount of $80.6 million was generated during the twelve-months ended December 31, 2015.
Adjusted profit before tax amounted to $55.5 million, down 18% year-on-year. Profit before tax dropped 52% in 2015 to $32.5 million.
Last year, 888 Holdings registered a 37% increase in the number of active casino players. During the second half of 2015, the company introduced its 777 brand, later on defining the launch as a successful one.
The gambling operator saw its market share in Spain grow over the past calendar year, following the introduction of slots titles as well as the launch of a sports betting website there. 888 Holdings also reported a continued progress in Italy, where it launched casino gaming content, a sportsbook, and mobile gaming options.
It was in 2015 again when the company introduced its operations to the Danish gambling market and established the Multistate Poker Network in the United States.
Commenting on the operator’s financial performance in 2015, CEO Itai Frieberger, who assumed his post on March 2, 2016, said that 2015 was a particularly successful year for 888 Holdings, during which it managed to maintain its operational momentum, continue executing its growth strategy, and expand its presence in a number of regulated markets.
