Betting firm 888 revenue jumps thanks to market expansion
Online betting and gaming giant 888 Holdings said its group revenue rose in the third quarter, hitting $229.9m, thanks to its expansion.
Revenue increased seven per cent to $229.9m (£166.9m) in the three month period ending September 30. In the same period last year, revenue hit $215.6m (£156.53m).
Casinos led strong performance in the group’s b2c gaming division, where revenue jumped 11 per cent on the comparable period, topping $193.5m (£140.46m).
However, its b2c betting division declined against a strong performance in the third quarter of 2020, dropping 15 per cent.
The Group had benefited from a slimmed down calendar of sporting events following Covid-related disruption last year. Revenue for the division soared 21 per cent when compared to the last pre-pandemic comparable.
In the last quarter, the business announced it would acquire rival William Hill, launched its US operation SI Sportsbook, and launched under a new licence in Germany.
Italy and Romania in particular delivered a strong performance.
Itai Pazner, CEO of 888, said he was pleased with the group’s “continued positive trading, particularly as we lap very tough comparative periods.”
He added: “This performance reflects the continued success of our data-driven investments and execution against our product-leadership plan that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.”