888poker to launch in Italy as customer value spikes

888 has announced plans to launch its poker product in Italy in an effort to take advantage of the forthcoming European liquidity compact and the firm’s evolving poker product.

Speaking to investors following the firm’s H1 results, CEO Itai Frieberger said the operator was working to launch 888poker in Italy as a “first step to participating in this very interesting venture [of shared liquidity]”.

Italy, where 888 currently offers casino and sport, was described as the firm’s fastest growing market with deposits up 40% year-on-year.

888 CEO Itai Frieberger

And despite underwhelming headline figures in poker – revenues climbed 1%cc – Frieberger hailed recent product launches, suggesting 888 has found a way to grow the stagnant vertical.

That 1% topline growth came despite a 23% drop in active users, as the firm withdrew from Australia, Poland, the Czech Republic, Slovenia and Slovakia in line with its regulated markets policy.

But the drop in users was overcome by a 26% rise in active player days, and a 28% rise in average revenue per user, which the firm attributed to its new poker variants like Flopomania and Blast.

“We have increased revenues against the industry trend,” said 888 CFO Aviad Kobrine. “The migration from traditional poker into more recreational formats has been very successful.”

One third of 888 poker revenues are now coming from these new poker variants, with Frieberger adding: “Poker is evolving faster than any of the other main verticals, and in this new world of poker, we are very happy with the innovation we have.”