The firm 888 Holdings experienced a positive fiscal year in 2021, although their final quarter displayed less strength compared to the previous year. Their revenue reached $214 million, reflecting a 16% decrease from the corresponding period in 2020.
Although acknowledging the decline, the company expressed no surprise. They attributed it to factors such as an exceptionally successful performance in the latter part of 2020 and certain regulatory adjustments. Their primary business segment, referred to as “B2C” and centered around individual consumers, witnessed a 17% revenue reduction, amounting to $205 million. Conversely, their “B2B” segment, catering to other enterprises, demonstrated a 10% growth, generating $900,000 in revenue.
Overall, 2021 proved to be a robust year for 888 Holdings. Their total annual revenue exhibited a 14% increase, reaching $9.72 billion. They attribute this achievement to their emphasis on pioneering product development and expansion into regulated markets.
Their B2C revenue surged by 15%, reaching $934 million, with their casino and sports wagering offerings demonstrating particularly strong performances, experiencing 24% and 4% growth, respectively. The B2B aspect of the business also witnessed an upturn, with revenue climbing by 8% to $38 million. A significant portion of this growth stemmed from robust performance in key markets such as the UK, Italy, Romania, and Portugal.
Itai Pazner, the Chief Executive Officer of 888 Holdings, characterized 2021 as a year marked by substantial strategic advancements. He emphasized their acquisition of William Hill International and the divestiture of their bingo operations, both strategic maneuvers aimed at sharpening their focus on expanding their B2C segment and penetrating the US market. Furthermore, they introduced their SI Sportsbook in the US through a collaborative brand partnership and commenced operations of 888sport in Germany under a newly acquired license, showcasing their proprietary sports betting platform.
We were utterly delighted to announce that we’ve shattered our income benchmarks once more this year, reaching double-digit expansion despite facing significant obstacles. This accomplishment is a tribute to our dedication to information-guided investments and our unwavering concentration on providing the optimal product encounter for our users. We’re perpetually striving to make our sports wagering and gaming interfaces even more intuitive, safe, and captivating.
888 will publish its complete financial outcomes for the twelve months concluding December 31st, 2021 in March 2022.
