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888 Sees 10% Jump in Revenue in its Second Quarter

Tags: 888, 888 holdings, finance.
Posted on 07 July 2021 by "T".

Leading online gambling operator 888 has reported it experienced a 10% year-on-year increase in group revenue for the Q2 2021, driven mainly by growth within its B2C segment.

888 is confident to say that it remains "well positioned to deliver further strategic progress during 2021 and beyond", as the company reports increased revenue has continued into this year's second quarter.

The group notes that Q2 was slightly ahead of board expectations, with a trading update featuring a 10% growth in revenue to $257M (2020: $214M).

This result is attributed to the continued success of group's product-leadership strategy, continued expansion in regulated markets, and long-term positive customer acquisition trends.

The growth was driven by taxed and regulated markets, which contributed 74% of revenue (in Q2 2020: 73%), with solid performances in Italy, Portugal, Romania, Spain and in the UK offset by the impact of the new regulation in Germany.

B2C revenue increased 11% to $247M (2020: $204M), led by casino (+13%) and sport (+94%), with sport improved from a reduced number of sports events in the previous year.

Bingo and poker revenues were lower than the previous year, which represents an anticipated strong performance during the year 2020 because of stay-at-home mandates.

The German regulator awarded 888 a sportsbetting license, strengthening its position as one of the most-licensed global online gaming and betting companies.

CEO of 888 Itai Pazner said, "I am pleased to report that the strong momentum from the first quarter of 2021 continued into the second quarter, albeit with the year-on-year growth rate moderating in light of stronger comparables from the prior year. Growth was 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.

In addition to strong trading across our core European markets, we made significant strategic progress during the period in the attractive US market, where we announced a long-term strategic partnership with Sports Illustrated. We look forward to launching SI Sportsbook as a key pillar of our strategy to drive increased growth in the US.

The Board remains confident that, with 888's advanced technology, products and diversification across markets, the Group remains well positioned to deliver further strategic progress during 2021 and beyond."

Source: https://www.investegate.co.uk/article.aspx?id=202107070700023660E

 


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21 comments on "888 Sees 10% Jump in Revenue in its Second Quarter"


 dule-vu07/07/2021 12:50:46 GMT
I dont say that they are not big company,but I dont believe that they are "leading online gambling operator" and that we have much bigger and better gambling sites!ofcourse that they have everything in their company,from betting,poker,casino,but lot of other sites have it and much better casino and poker site,so few other sites must be better then they,with promotions,bonuses,offer of games and so on and on end with growth!
 CALICUL08/07/2021 10:51:08 GMT
I like 888 but i'm not a regular winner. About twice a year i made a few hundred dollars profit, but there were situations when i could do more... but the software eliminates me bizarrely or brutally. I hope be more successful in future because here is a nice place to play.
 dule-vu08/07/2021 13:30:44 GMT
I am sure that party poker,party casino and party bettin site are much bigger then 888 company and that they have bigger number of players on all sections and this is just one site from few,who are bigger then 888!unibet maybe dont have such a big number of poker player,but still much bigger betting and casino site,so they earn more then them!
 antonis32108/07/2021 15:57:14 GMT
888 is one of the most well known and established betting companies in the gambling market , ofcourse casinom and sports have more contribution to profits than poker , I think this is a fact for most or all bettingcompanies like 888 , who have all forms of gambling . They also decided to begin steamings in twitch , a strategical very right decision , althought they should have done it much earlier ...... I hope their good results continue for the next 2 qurters of this year
 CALICUL09/07/2021 12:05:20 GMT
it's good here but their tournaments must to be more consistent because at the casino we can't play like poker, and at sports betting we are lonely. Something needs to change here, because more players can be attracted with some great ideas.
 dule-vu09/07/2021 15:32:23 GMT
antonis you are right about this,that everybody know for them and how secure they are and thats very important,so on that you can count and if that is only important for some player,then be part of 888 site!
if you want something more,search other sites and see what they offer!
 CALICUL10/07/2021 13:27:22 GMT
This increase is justified, because people play all sorts of games. I want to have more time and to play more poker, but unfortunately i have to do other things and that stops me. I hope they will have even more to increase the chances of making money for all players.
 dule-vu17/07/2021 16:07:55 GMT
888 must do some better things,because they lose their position on poker market every year!
 Rogerio1019/07/2021 04:56:59 GMT
On poker probably they target just recreationals and they are happy with it. Site never had good rakeback, but they had good freroll promotions. Casino for me is ok, but like you said there are better options for that too. Sport bets? Never try play there, so can't comment too much.
 dule-vu19/07/2021 17:26:36 GMT
yes,in last more then year every site had grow because of this corona situation,because lot of people were at home so they played a lot,but this doesnt show that 888 is much better then other site,for me its opposite!
when you look at casino and sports betting,you will find much better site,for poker depend what you like to play!
 CALICUL19/07/2021 18:22:12 GMT
People play a lot of cash if 888 grows up, because it's tiring to always play tournaments for hours and not win anything, or to make a ridiculous profit. I know from my own experience, which made me focus on sports betting. I was not successful here, except for earning a few hundred dollars a year, which does not compensate for the lost time. Maybe this year or in future will be more money for me.
 Rogerio1020/07/2021 05:35:52 GMT
Haha i didn't even think about corona situations. Yes of course every site can say they grow then lol. While i am still playing i am realy for every site to grow and get's new players. When first corona lock down was on the games were realy good, on some apps specialy. Hope it will not be another lockdown, but if will at least tha games will be better haha Big Smile
 dule-vu20/07/2021 18:19:48 GMT
you can imagine what another lockdown in big countries will bring to gambling sites,they would earn even more money from players,especailly if nothing will work,but sport will be played or for gamblers who love casino and poker gmaes!every day we have more and more new players,so this will be big grow again for them!
 CALICUL20/07/2021 20:31:57 GMT
I like 888 poker at his games, but i can't access all of them which are interesting, because they have changed a lot. Today i bet on them on football and i played a little poker. In the evening i played a free game and finished 4th out of 7,500 players with a $ 8.65 prize. That's a good thing, but I'd like that in more important tournaments, and less in freerools.
 Rocio2508/08/2021 04:35:09 GMT
Well 888 is a company and it continues to grow more and more and that is very good, with the strategies they have, it will achieve its objectives, this company is well positioned and with its growth and good results, its clients could continue to participate.
 dule-vu08/08/2021 06:11:14 GMT
every online company had grow because of this corona situation,but you can imagine what grow had then party poker,poker stars,unibet and this kind of big companies!
 dule-vu10/08/2021 20:19:56 GMT
today we have news about 888 poker and how they are big site and how every 12 second they have new sing up on their site,so this 10 % doesnt show it,because they would have then much bigger grow of their income and who know how much they would earn!
ofcourse this registration for every 12 second isnt right!
 dule-vu14/08/2021 10:13:27 GMT
they grow as every site grow in this corona situation,but they will not have this great months for long time and they must change on their whole software,their games and promotions,because its not enough to offer just freeroll games,big series of them and to expect that players will later deposit money!
 Rocio2524/08/2021 14:19:49 GMT
This company 888 grows every day more and more now that the covid 19 nobody can leave home due to contagion now they can play from home, this company with its new strategies is growing wonderfully and thus its customers can continue betting and be able to participate
 CALICUL24/08/2021 14:41:22 GMT
I hope they will grow with poker as well and to have better daily tournaments

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