“We’ve only begun to scratch the surface,” said CEO, Mike Murphy. “Our primary goal with NLOP was to increase profitability as quickly as possible, while also adding value for the player. That happened much sooner than expected.”
NEW YORK (PRWEB) March 13, 2018
Cafrino, a developer and publisher of online social games, finished 2017 reaching a number of key performance milestones, after a year highlighted by the July acquisition of National League of Poker (“NLOP”).
Compared to 2016 performance, 2017 saw significant increases in revenue (by 125%), total prize pool (by 100%) and Daily Active Users (by 300%). Highlighted by its poker products, Cafrino dealt 130 million hands in 2017, compared to 17 million in 2017.
Led by CEO, Mike Murphy, an 18-year veteran of the online game industry, the company is eyeing an even stronger performance in 2018.
“We’ve only begun to scratch the surface,” said Murphy. “We’re working hard to make our products the most fun and challenging games available to players. Our primary goal with NLOP was to increase profitability as quickly as possible, while also adding value for the player. That happened much sooner than expected, allowing us the ability to take some time to look farther into the future.”
Cafrino, which monetizes game play with both subscription and advertising revenue, experienced its significant increase in revenue after the acquisition of NLOP. With additional advertisers brought on with the NLOP deal, 2017 advertising revenue increased nearly 10x from Cafrino advertisers alone.
“Our advertisers love us,” said Stan Hunting, Director of Advertising. “We see video advertising viewability and completion rates above 90% - that’s nearly double the industry standard for video advertising.”
“Our extensive player time-on-device, an average of 67 minutes per day, offers a unique opportunity for advertisers. And our ad platform can target player interests and demographics to keep users engaged while not interfering with game-play,” Hunting added.
Cafrino’s subscription revenue has also increased dramatically.
“We’re seeing double-digit growth in month over month subscription revenue,” explained Murphy. “We set the bar high with expectations, and February beat projections by nearly 30%.”
Now that the dust has settled from the acquisition, Cafrino is working to expand its product offerings. With extensive experience in online gaming, marketing, and a strong understanding of the users and usability, the team is preparing to leverage that experience and bring additional success to future products.
"NLOP has provided a tremendous platform for growth within poker and beyond," said John Buckman, Director of Strategic Partnerships. "We continue to identify international opportunities, as well as technology and advertising partners, that will bring multi-player prize pool games to a broader audience."
Cafrino Chairman, Haig Kayserian commented: “We couldn’t be happier with the 2017 results -- especially given the lean operational approach our team has adopted. We are well positioned for growth that will be further fueled through the capital funding and strategic partnerships anticipated over the coming weeks and months.”
Launched in 2014 in New York and opening its California offices in 2016, Cafrino offers a multi-game library of casino-style online social gaming that is is completely legal in all U.S. states. With an experienced and lean team, and a fast-growing player base, Cafrino has been giving the competition a run for its money. Cafrino continues to look to the future, with a focus on innovation in the social gaming and online poker industries.
Cafrino Public Relations