888, one of the world’s leading online betting and gaming companies, has announced “another record year”, with revenue growth of 14% driven by expansion in regulated markets.
In its post-close trading update, the betting giant reported growth driven by regulated and taxed markets, which contributed 74% of revenue, with strong performances in the UK, Italy, Romania and Portugal, partially offset by a decline in Germany.
B2C revenue increased 15% to $934 million, led by casino (up 24%), with sports growth of (up 4%) reflecting the greater impact of regulatory changes on the sport business, in particular the exit from the Netherlands.
Fourth quarter revenue hit $214m, down 16% from 2020 in-line with 888 expectations.
The update also highlighted the acquisition of William Hill International, which is expected to complete in the second quarter of 2022.
During the period, 888 also made a “strategic” sale of B2C and B2B bingo business for up to $50m, increasing the focus on core B2C platform and US growth strategies.
Itai Pazner, Chief…
