Industry News
888 Announces H1 2021 Financial Results
Online gaming giant 888 Holdings has announced its financial results for the first half of 2021 (H1 2021).
The company reported revenue growth of more than 80% in Italy and 50% growth in the UK. Revenue for the group was $528.4m, up 39% on the $379.1m of the same period last year. Gross profit was $352.4m compared with $250.9m, up 40%, and adjusted EBITDA was $97.4m compared with 70.1m, up 39%.
The big factor was B2C betting, showing an 82% rise with regulated and taxed markets representing 75% of its group revenue.
The keynote features of the year were the rolling out of the 888sport platform in most markets and strong betting revenue growth. Over 435 new games were launched on the 888casino product.
There was also a US partnership with Sports Illustrated and the SI Sportsbook will go live in Colorado this month and into other states planned, while the B2B business in the US extended into Pennsylvania.
CEO Itai Pazner said: “The strong momentum from 2020 continued into the first half of 2021 with growth driven by regulated markets. We have strengthened our position in the US and continue to execute our product leadership plan.”
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