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888 Reports Record Revenues in 2021

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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.

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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 Executive Officer at 888 Holdings, said: “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.”

“In addition, we successfully launched SI Sportsbook in the US shortly after signing a long-term brand partnership and began operating 888sport under a new licence in Germany, all using our in house sports platform.”

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“I am pleased to report another year of record revenues alongside these important strategic milestones, delivering double-digit revenue growth despite a very tough comparative period. This performance reflects the continued success of our data-driven investments and execution against our product-leadership focus that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.”

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Mohegan Appoints Joseph J. Hasson as Interim COO

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Mohegan Tribal Gaming Authority, known globally for its renowned integrated entertainment resorts, has appointed Joseph J. Hasson as interim Chief Operating Officer. Jody Madigan, the current COO, has resigned effective August 1, 2024, and will be taking a leave of absence pending his departure.

Joseph J. Hasson will serve as interim COO and retain his current role as General Manager of Mohegan Casino at Virgin Hotels Las Vegas, subject to necessary regulatory filings or approvals. Mr. Hasson was an obvious choice for the Management Board, given his prior experience as the former Chief Operating Officer of Station Casinos LLC and Red Rock Resorts Inc. Joe brings considerable expertise to the executive team with a consistent track record of operating excellence and success over more than 40 years’ experience in the gaming and hospitality industry. Mr. Hasson will report to Ray Pineault, President and Chief Executive Officer of Mohegan.

“Joseph J. Hasson’s deep understanding of the gaming and hospitality industry makes him exceptionally qualified to maintain our high service and operational excellence standards. We are confident that Joe’s extensive experience and proven leadership will ensure continuity in our operations and guest experience,” Ray Pineault, President and CEO of Mohegan, said.

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Jennifer Shatley Joins ROGA as Executive Director

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Jennifer Shatley, a recognized expert in the field and a highly sought speaker and advisor, has joined the Responsible Online Gaming Association (ROGA) as Executive Director.

Shatley has had 25+ years worth of experience, working closely with the treatment community, academics, researchers, government bodies, state councils, and gaming industry representatives to promote responsible gaming.

“Many of America’s largest legal mobile gaming operators will be establishing a framework that helps to aid in responsible gaming education and awareness. By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” Shatley said.

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IDnow Bridges the AI-human Divide with New Expert-led Video Verification Solution

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IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.

The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.

As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.

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Bertrand Bouteloup, Chief Commercial Officer at IDnow, said: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”

Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.

Bouteloup added: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.

“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”

The post IDnow Bridges the AI-human Divide with New Expert-led Video Verification Solution appeared first on European Gaming Industry News.

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