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

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» 888 Sees 10% Jump in Revenue in its Second Quarter


 CALICUL26/09/2021 16:01:01 GMT
I'm curious what numbers 888 has in 2021, because they offered many beautiful promotions and players are many here. In recent years we have seen many gifts and we have many benefits. Yesterday i won a sum of money at a freeroll game, and others struggle for a month to get that amount. With this money i will try to increase the bankroll again, because they offer many possibilities, that's why people play here.
 antonis32126/09/2021 23:37:39 GMT
It will be better Calicul for them if they try to enter more markets/countries . Ofcourse there are restrictions and regulations from governments nowadays , not easy to buy the expensive licences in some countries lke mine , but it would be good to expand their players' pool , they have left some countries , hopefully they wll re-enter someday soon .
 CALICUL26/09/2021 23:38:34 GMT
yeah, of course Cool
 dule-vu26/09/2021 23:42:05 GMT
Yes,ofcourse!
 CALICUL27/09/2021 00:41:12 GMT
it will be good for 888
 dule-vu27/09/2021 00:42:49 GMT
Old thread!
 CALICUL27/09/2021 00:44:18 GMT
888 is blocked in your country
 dule-vu27/09/2021 00:48:59 GMT
Such old thread!
 CALICUL27/09/2021 00:49:52 GMT
this ghost has no sleep
 dule-vu27/09/2021 00:53:54 GMT
Such old thread!
 CALICUL27/09/2021 01:04:07 GMT
888 is very nice
 dule-vu27/09/2021 01:05:50 GMT
888 isnt best,but freeroll players love them!
 CALICUL27/09/2021 01:06:40 GMT
888 os for me because you are restricted
 dule-vu27/09/2021 01:13:34 GMT
Great for freeroll player who need money for life!
 CALICUL27/09/2021 01:14:26 GMT
yesterday i won money here with free games
 CALICUL23/10/2021 15:52:50 GMT
888 offers the most gifts to attract customers to poker tournaments, but unfortunately they play more cash and other fast games. However, they have some success in attracting customers, as long there are a number of promotions, gifts, bonuses or freeroll games that stimulate you a lot.
 CALICUL12/11/2021 20:23:19 GMT
888 has a good camera with multiple possibilities, but i don't understand why they prefer to keep the tournaments separate. Normally, for a bigger attraction and more consistent prizes a big mass of players is needed. 10% is a good thing and i think some changes can take place to make the players happy.
 antonis32113/11/2021 23:47:50 GMT
I hope they come back to Greece , like GG , they also left many markets , for various reasons , legislation , licence . I do not know how much the licence in Greece costs , but I hope they manage to afford and come back . 888poker s very good for novice players , freerollers , low buyin players
 dule-vu13/11/2021 23:48:41 GMT
I dont think that they will back in any country,like they are out from my!you have maybe chance,because its bigger country and bigger market,but they dont want to pay licence in every country!
 dule-vu15/11/2021 01:19:34 GMT
now when they will be closed for lot of countries,especially in europe,we will see what strategy they will have and how much they will earn from customers!for sure they will not pay licence for small countries,because its not worth in it,but maybe they will lose some bigger ones also!
 antonis32116/11/2021 02:54:56 GMT
Yeah , most probably they won't come, they left last year I think ?? yeah , most probably it would take many years for such a thing to happen . i do not know . many times I have the feeling that the great players of the industry or the governments have set the share of the market for every player in the industry , this is sad . And these licences , if they cost somehow less , more businesses would come meaning more money in taxes (and better quality of services offered to poker players or casino players) . the free economy does not work ......
 dule-vu16/11/2021 02:56:40 GMT
Every goverment want to take tax now and that money stay in country!
 antonis32118/11/2021 23:30:39 GMT
It was far bette in the 2000s , much freedom , I could access 1B poker sites , spend whatever I wished , whereever I wished , now so many regulations , the totalitarianism at its finest , I think is some years we will have to ask for permission via an app or sms to be permitted to take a sh** . -Just kidding ,
 CALICUL18/11/2021 23:30:47 GMT
it is dictatorship everywhere... , i know
 CALICUL08/12/2021 10:31:03 GMT
with so many beautiful things in 888, serious things can happen here. Poker is too hard a game for many players, but if they focus on their level, beautiful things could come out and of course here they can still make money from what this room offers through various methods. The important thing is that here we can also enjoy promotions like this when they place them to stimulate the players.

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