PokerStars, partypoker and 888poker which are the three most popular online poker rooms in the world recently released their 2018 financial results. The financial results reveal that Partypoker has enjoyed significant growth while 888poker’s online poker revenue suffered greatly. PokerStars is taking things slow and still holds on to the number one spot of being the biggest online poker room in the world.
Massive Revenue Drop for 888poker
888poker, which was second only to PokerStars when it comes to online poker revenue, has now descended to third place just behind partypoker after suffering a massive decline of 37% in revenue during 2018 figure. Revenues dropped down to $49 million, from the $77.9 million recorded in 2017.
This marks the second lowest online poker revenue generated by parent company 888 Holdings since 2010, when it recorded only $38.4 million, and also marks the second time that online poker has been overtaken by other gambling verticals. In 2010, Bingo overtook online poker, and in 2018 sports betting revenue overtook online poker revenue. Online poker accounted for only 10% of the total gaming revenue gained by 888 Holdings in 2018.
The latest figures also show that 888’s online poker revenue for the second quarter of 2018 was lower than every quarter from Q1 in 2014 to Q2 in 2017.
888poker is dealing with the current dip in revenue by running rake-free tournaments and several other promotions. The online poker room is also considering a complete overhaul, which is aimed at attracting more customers and keeping existing players loyal to the brand.
PokerStars Maintains Growth
PokerStars still leads the online poker race, recording an increase of 1.1% for the entire 2018 financial year. Parent company the Stars Group announced that PokerStars generated $886.6 million in total revenue which represents marginal growth from 2017, but still significantly higher than its leading competitors.
PokerStars suffered a 10% drop in revenue in the last quarter of 2018, generating just $211 million, compared to the same period in 2017. While the company blames currency fluctuations for the revenue decline, Q4 figures still fell by 4.4% on a constant currency basis.
Poker is still a major revenue stream for The Stars Group, making up 61.6% of its total 2018 revenue. Casino and sports betting verticals also yielded positive results, with revenue jumping almost four-fold from $136 million in 2015 to $507 million in 2018. These two verticals now account for 35.5% of the company’s revenue.
CEO of The Stars Group Rafi Ashkenazi said while the increase in casino and sports betting revenue indicates positive development, it has impacted revenue for poker as some players are now spending a portion of their bankrolls at the online casino. Online poker continues to be a major contributor to the company’s growth, which allows for the cross-selling of online casino and sports betting games.
Partypoker Enjoying Good Success
GVC Holdings which is the parent company of partypoker is very happy with the 2018 results. GVC CEO Kenneth Alexander made a presentation on partypoker’s 2018 performance and said the online poker room is in hot pursuit of topping PokerStars from the number one position.
While online poker is experiencing a slower growth rate compared to other online gambling verticals, partypoker is seeing some healthy gains, with a 42% revenue increase in 2018.  Partypoker has also started 2019 with a bang with revenues growing by 38% in the first few months.
With the release of the latest figures, partypoker has now knocked 888poker from second place in terms of online poker revenue. Partypoker’s current success is a product of hard work and calculated risks as it tries to regain market share in the real money online poker scene. Partypoker continues to do incredibly well under the guidance of managing director Tom Waters and Dusk Till Dawn casino owner Rob Yong.
Partypoker has implemented a number of changes in the last few years, boosting its rakeback offer to high-volume players by up to 50%, and running highly successfully tournaments such as MILLIONS Online tournament which featured a massive guarantee of $20 million. The platform also launched its partypoker LIVE tour in January, 2017, holding major tournaments in different parts of the world, including Austria, Canada, North America, and Germany.
GVC’s 2018 financial figures for partypoker did not include a break down of its online poker revenues, but it is believed to top €137 million, a massive increase from the revenue reported in 2017 which stood at just €98 million.

Tight Poker Staff

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For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.
For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.