888, the operator of 888Ladies and Wink Bingo and software provider to Foxy Bingo, Think Bingo, Cheeky Bingo and many more bingo sites, said that second quarter revenues has been disappointing.
A stock exchange announcement said that “Q2 Trading to date has been disappointing in casino, poker and bingo…during the first 25 days of the quarter daily average revenue was approximately 13 per cent below the Q1 average.” Some of this can be attributed to seasonal slowdowns which are expected but analysts said the drop was likely to be down to poor operating performance as well.888 has suffered from increased competition, both in its consumer facing brands which mainly consist of casino and poker, but also in its business to business offering in which both Playtech and Party Gaming have emerged as fierce competitors.
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