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oct
26

888 Holdings reports Record Profit on First Half of 2021

Tags: 888 Holdings, 888casino, 888poker.
Posted on 26 October 2021 by "T".

888 Holdings revealed that for the six months ending in June 30, 2021, their revenue reached $528.4 million, a positive increase of 39.4% compared to the $379.1 million in the same timeframe in 2020.

The growth was driven primarily by its B2C operations, which posted $509.1 million.

CEO of 888 Holdings Itai Pazner said, "The strong momentum from 2020 continued into the first half of 2021, with growth driven primarily by regulated markets, where we believe ongoing market share gains continue to reflect our product-leadership strategy, highly effective data-driven marketing, and our excellent content."

Lockdown Winner
Just like other online betting groups, 888 Holdings is one of the winners due to extended lockdowns brought about by the pandemic. A significant number of live sporting events were unfortunately cancelled because social distancing restrictions were imposed.

As a result, many people turned to alternatives offered by online gambling operators instead, which included online poker and online casinos. Looking forward, one natural concern for the market and investors is the obvious signs of growth slowing down as the lockdowns are lifted, retail and leisure venues are re-opened as the economy returns to some form of normality.

Pazner said, "The board remains mindful of the tougher comparables in the upcoming fourth quarter, a period that enjoyed an exceptionally strong performance in both betting and gaming revenues during 2020."

Shares
888 Holdings shares gained 3.3% to 421p after revealing record interim results and increasing annual earnings guidance.

Pre-tax profits calculated for the first half of the year 2021 (January-June) showed an increase from $50.9 million to $57.9 million on a year-on-year basis as revenues increased by 39% to $528.4 million. The interim dividend went up by 41% to 4.5 cents per share.

Optimistic Future
There are many reasons to be optimistic about 888 Holding's future prospects, despite the tougher scenarios the company will face once the advantageous impact of lockdowns recedes.

For one, the group will be taking market share across key regulated markets. Another reason would be that the company will benefit from the strategic partnership they have in the USA with the upcoming launch of Sports Illustrated Sportsbook.

Sports Illustrated is the fastest growing sports media brand in America, with more than 12 million readers per year and 30+ million unique monthly visitors. A Sports Illustrated customer is over 3 times likely to visit a betting website and is 78% more likely to place a wager, based on a Comscore research.

About 888
888 Holdings PLC, or 888.com, is a public company based in Gibraltar that owns many popular gambling brands and websites:

  • Online Casino - 888casino
  • Online Sports Betting - 888Sport
  • Online Poker - 888poker
  • Online Bingo - 888Bingo

Source: https://www.gamblingnews.com/news/888-holdings-interim-report-revealed-record-profit-in-h1-2021/

 


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24 comments on "888 Holdings reports Record Profit on First Half of 2021"


 dule-vu26/10/2021 10:27:58 GMT
we can imagine what other sites also have,when whole 888 have this amount in just first half of this year!
 MarkWest26/10/2021 10:47:13 GMT
Nice grow up , almost 40% it's not bad at all , strategy of so many interesting promotions seems to work.
Time will show how long it works...
I see that even their poker app works better than before.
 dule-vu26/10/2021 10:54:14 GMT
But this is also betting and casino!lot of countries had lockdown,so this grow isnt strange!
 MarkWest26/10/2021 12:41:17 GMT
Yep not strange but nice , of course some other sites also have good numbers of grow up.
Maybe you dule found somewhere more information about other sites , it's maybe interesting to
see Cool
 dule-vu26/10/2021 12:57:08 GMT
Will try to find!we all know when they have such a big grow,that mean that players lose a lot of money Big Smile
 antonis32126/10/2021 18:01:16 GMT
These campaigns they began to promote their poker platform and also all the other promotions had a result . Their revenue increased for the first half of this year , also their profits . Ofcourse some lockdown worldwide still was in play and contributed somehow to this revenue increase , but ofcourse 888holdings they are doing a great job , they really deserve this reward
 dule-vu26/10/2021 18:02:46 GMT
But its about betting and casino,not about poker only,so maybe poker section isnt leader in this!
 adabol27/10/2021 05:55:41 GMT
The 40% increase in revenue year on year is largely due to the lockdown. A lot of people are forced to sit at home and having a lot of time people either watch TV or play games. So the 888 Holding owes its profits largely to the virus.
 dule-vu27/10/2021 06:50:26 GMT
This is only for first 6 months this year!
 dule-vu28/10/2021 11:39:48 GMT
we must understand that they have big grow in casino and betting section,you lot of this money is earned there,so its not that poker is main part of their site and we can see that this news is in casino section news!in this months they will have again grow for sure!
 ligador3728/10/2021 15:33:57 GMT
This news is not surprising at all. As we have already discussed in other threads, the pandemic caused many people to dedicate themselves to online games and I believe that the numbers will continue to grow even when there is no longer a pandemic.
And yes, not only must 888 have raised so much, I can imagine the other big rooms have obtained similar profits.
 CALICUL28/10/2021 15:35:01 GMT
888 is good but my withdrawal does not exist for this year. Too much bad luck...
 antonis32128/10/2021 22:51:00 GMT
For sure this growth is from casino and sportsbetting mainly , not from poker , but this actually happens in every bet company , either it's 888 or stars or party , poker plays minimal role in the total betting revenue , I guess casino has the biggest part in the betting market . Anyway that's good for them , more profits , they can reivest some of them to grow more 888 companies (poker , casino , sportsbetting) Smile
 dule-vu28/10/2021 22:57:25 GMT
for them its good,for players not,because they lose lot of money then!
 dule-vu30/10/2021 12:17:48 GMT
you can imagine how much money players lose on all site,not just on 888,when all of them have such a big grow in only few months and for sure they will earn even more in december where all of this sites will have promotions every day,deposit offer,leaderboards and so on!
 MarkWest30/10/2021 12:47:44 GMT
Yeah it's good time for all well known sites , they just need to found good promos , gift , interesting tournaments etc. to keep players on site.
Little of topic but like 888 make , 2 days ago was playing one eye slots and one eye poker , it's very nice that it's possible , play one free tournament for sunday big shot and surprise get ticket 109$
Free to try so why not Smile)
 dule-vu30/10/2021 12:54:36 GMT
So you got big ticket?seems that at poker site they give something,but then they take on casino and betting Big Smile
 MarkWest30/10/2021 15:27:04 GMT
Yep freeroll and ticket for tomorrow big shot , not bad Smile don't know about casino loose because same time when get that ticket win also from slots about 180$ so it was good moment Smile)
 dule-vu30/10/2021 15:34:01 GMT
congratulations on this ticket and wish you luck on tournament!
yblod from croatia,I know that you give this thumbs down....
 MarkWest30/10/2021 18:05:56 GMT
Thanks Dule that's what need tomorrow and good hands also Cool hope my luck will continue tomorrow like 2 days ago ,
Free ticket and cash for rebuy if have good mood with that tournament Smile)
 dule-vu30/10/2021 18:07:05 GMT
Hope that tournament will have big prize pool,so that you have chance for nice amount,no matter on what payed place you will finish!
 MarkWest30/10/2021 20:25:45 GMT
If I look correct it's 150 K tournament , there was at the moment about 230 players but I think tomorrow there will be more ... anyway it's free to try Smile
 CALICUL30/10/2021 20:29:51 GMT
888 is very good in this moment
 CALICUL28/11/2021 00:29:32 GMT
888 is good in many ways but also has disadvantages. People play here and they make a profit, but I think something needs to change because poker tournaments are not so well organized that there is something to satisfy both parties. We will see, what will be.

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