-
888 showing increased revenues from BTB
2010-04-07 15:05:05 | Written by: Rachel Collins
888 Holdings, the company behind many sites including the popular 888 Ladies online bingo site, has just released its 2009 fiscal year financial results, and analysts are pointing out the impact 888's B2B operations are having on its bottom line. In reality, 888's Dragonfish B2B division offset what could only be characterized as a dismal year for 888's consumer operations. Pre-tax profits in total for 888 during 2009 dropped 28 percent year over year to just over $34 million. Business to consumer top line revenue dropped 12% to $195 million, whereas revenue emanating from business to business sales increased by 33% to $51 million.
Gigi Levy, 888's Chief Executive Officer, commented that diversification into business to business sales proved prophetic, and he further trumpeted the strength of 888's business model which combines these two revenue sources. Apart from operating the well known 888 Ladies site, as well as 888 Bingo, 888 had signaled its increase in focus into the bingo arena with its purchase of Wink Bingo, and it found that the current environment for bingo sites was extremely competitive and necessitated promotions which served to greatly reduce margins.
One key Dragonfish contract was with Linden Labs providing payment services within its popular Second Life virtual reality game. 888's consumer operations appear to need a similarly creative deal to provide impetus to drive their ailing revenues. Levy pointed to new interactive offerings within their consumer division, and indicated that initial results during 2010 appear to be positive. Analysts will look to future earnings reports to see if Levy's optimism is justified.
Visit 888 LadiesRelated News
- 2010-05-12 | 888 Ladies to Host 2nd Annual Roomies Party
- 2010-04-29 | Winners Abound at 888 ladies
- 2010-04-28 | 888 downsizes – will let go 20% of employees
- 2010-03-23 | 888 Ladies Present Instant Free Money
- 2010-02-26 | Guaranteed jackpots at Moon Bingo, 888 Ladies and Wink Bingo
Leave a Comment
Players Comments
-
-
Free Bingo Bonuses
-
Site of the Month
Although it looked promising from the start, Bingo On The Box is already few years old and it’s safe to say it’s a bingo success. Featuring an extremely attractive welcome offer at the site with 300% in free bingo bonuses for new members, and offering loads of free bingo games - Bingo on the box also offers £15 no deposit bingo games for non funded members - Bingo on the Box has the concept of Free Bingo written in capital letters all over its door step, and it certainly delivers in that area.
Visit Bingo On The Box 
-
Bingo 101