888 has just released its 2021 revenue data revealing that the gambling company enjoyed ‘another record year’ as expansion in regulated markets drove revenue growth of 14% year-on-year.
This was in part thanks to strong performances in the UK, Italy, Romania and Portugal. However, the company noted that the growth in these markets was partially offset by a decline in Germany.
According to its post-close trading update, 888 reported that B2C revenue increased by 15% to £686 million ($934/€823.6 million). This was led by casino revenue which rose by 24% while sports betting revenues increased by 4%. While revenues did grow, the 2021 exit from the Dutch market saw the company fall a little short of forecasts for the year. 888 Poker is currently one of the top poker sites in Europe.
The report also revealed that fourth quarter revenue dropped by 16% to £157.2 million ($214/€188.7 million) when compared to the same period in 2020. This was in line with the company’s forecasts.
Speaking of the company’s results for 2021, Itai Pazner, Chief Executive Officer at 888 Holdings, said:
888 Revenues for 2021 Hit An All-time High Despite Slow Fourth Quarter from Caesars Entertainment. However, this deal is not expected to go through until the second quarter of 2022.“2021 was a year of outstanding strategic progress for 888 as we announced the transformational acquisition of William Hill International, and reached an agreement to sell our bingo business to increase our focus on our B2C and US growth plans, as we continue to execute our plan to build a global online betting and gaming leader.”
888 Revenues for 2021 Hit An All-time High Despite Slow Fourth Quarter 888 Revenues for 2021 Hit An All-time High Despite Slow Fourth Quarter
The deal will see 888 enter the retail betting industry for the first time as it takes control of 1,400 William Hill betting outlets.
