Industry News
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.
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.”
“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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Industry News
IGT Achieves Improved ESG Score from FTSE Russell
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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.
“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.
FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.
The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.
Industry News
Super Group Appoints Merrick Wolman to its Board of Directors
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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.
Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.
Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”
This appointment brings the total directors on Super Group’s board to nine, including five independent directors.
The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.
Industry News
Kindred Reports Decline in Revenue from High-risk Players for Q4 2024
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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.
“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.
“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.
The post Kindred Reports Decline in Revenue from High-risk Players for Q4 2024 appeared first on European Gaming Industry News.
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