T&Cs apply to all offers on this web site

Why 888 Bingo Profits have Bombed

  • 17 Aug 13
  • Written by Deena Chance

altEverything’s not as hunky-dory as you might think over at the head offices of 888 Holdings – the owners of 888Ladies and 888Bingo, amongst others. Recent reports have shown that the company’s bingo profits bombed during the second quarter of the 2013/14 financial year, despite the fact that the group has been making impressive profits with its online casino and poker offerings.

During the second quarter, 888’s bingo revenues fell by 23% and although the company’s coffers have swelled with casino revenues in the third quarter, bingo remains a “challenging and competitive market” for them to conquer.

Despite this gloomy outlook, the group’s CEO, Brian Mattingley, says he’s pleased with the 888Ladies parent company’s progress in their of the markets, and hopes their recent deal with the online arm of Caesars Entertainment will prove financially significant over the coming year. 888 is gearing up for further forays into the American gambling market with the recent incorporation of a new subsidiary (the All American Poker Network), which will allow them to offer 888-branded casino and poker products to New Jersey residents if the relevant regulatory approvals are given – a move which Mr. Mattingley describes as an “incredibly exciting” opportunity.

Despite the fact that the Gibraltar-based gambling operator finally got round to launching an 888Ladies Bingo app for iPhone and Android users in January 2013, it seems as though even an additional choice of gaming platform isn’t even to boost the group’s profits. Perhaps the flurry of recent activity over on the 888Ladies’ Facebook page is an open attempt to reach out to both existing and potential players, and encourage them to visit the site and take advantage of offers like weekend bonus codes, loyalty point giveaways, and pet competitions. We’ve even seen them ‘treating’ their fans to “Friday Hunks” such as pics of David Beckham, and sharing photos of celebrity handbags. Both 888Ladies and 888Bingo are also offering 200% welcome bonuses to new members of their sites, which you would expect to attract players looking for the best value bingo bonuses.

Are any of our readers fans of 888Ladies or 888Bingo? If so, do you think there’s an obvious reason why bingo profits are down? Maybe you’ve got some ideas for what these sites could be doing differently to attract more players? Alternatively, maybe there’s a reason you don’t want to become a member, in which case what could 888 to help change your mind?


Latest News & Gossip