Bang a Gong, Bring it On – 888 Claims 14 Point FY21 Revenue Surge
Total group revenue for the FY ending December 31, 2021 should be a record US$972 million (£715.5m/€854.6m) – compared to 2020’s take of US$849.7 million (£625.47m/€747m), the FTSE-250, Gibraltar-based gaming operator said in a trading update, published yesterday (January 17).
The company enjoyed particularly market success in the UK, Italy, Romania and Portugal during 2021, despite a dip in its German operations and the decision to pull out of the newly-regulated Netherlands online space, albeit temporarily.
Said 888 Chief Executive Itai Pazner: “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 ongoing improvements in the usability, quality and safety of our sports betting and gaming products,” he stressed.
888’s acquisition of William Hill’s–UK-loaded, non-US–international assets from Caesars Entertainment is expected to finalize in Q2 this year, while the firm has also agreed a headline-grabbing partnership with the iconic Sports Illustrated brand to launch a betting and gaming online vertical in the states.
The operator’s is now focussed on building its consumer-facing platforms and substantiating its US market presence.
Added Pazner: “2021 was a year of outstanding strategic progress for 888. We continue to execute our plan to build a global online betting and gaming leader.”