Poll: Is there growth in online bingo?
In this week's poll eGaming Review asks readers for their opinion on the future of online bingo
Recent financial results haven’t read well for the online bingo market with a number of operators announcing declining revenues for the vertical.
Last week, Rank revealed its Mecca Bingo brand had suffered a 3% decline in online revenues during the three-month period ending 15 October. In an analyst call following the results, chairman and CEO Ian Burke said there was currently “no growth” in online bingo with operators having to invest heavily just to maintain their current customer base.
Citing an over competitive market exacerbated by a number of new entrants for the decline, Burke said it was important to develop new user experiences and product services in order to stand out in an area where there is “very little differentiation”.
888 have also found the bingo market a challenge over the last year or so with a continual decline the vertical’s top line. Last week, the operator announced revenues had fallen a further 21% year-on-year during Q3 while earlier this year it revealed an 18% fall in EBITDA for H1.
The struggles led to the operator restructuring its bingo division during the summer and CEO Brian Mattingley hopes the changes will bring about a return to growth late in 2014.
William Hill and bwin.party have also announced negative bingo growth in the last few months so, with Burke’s comments in mind, in this week’s pool we ask eGaming Review readers whether operators can achieve long-term growth in the online bingo market?
Have your say on the bottom right-hand side of the page.