The year 2021 proved to be a mixed bag for 888 Holdings. Their final quarter earnings experienced a 16% decrease, settling at $214 million, a development that wasn’t entirely unforeseen. The previous year, 2020, had set a high bar, and shifts in the regulatory landscape also contributed to the outcome.
However, a broader perspective reveals that their annual revenue for 2021 actually ascended by a noteworthy 14%, reaching $9.72 billion. This accomplishment can be linked to their emphasis on innovation and penetration into regulated sectors.
Their business-to-consumer (B2C) division, encompassing a majority of their online gaming activities, witnessed a 15% revenue surge, hitting $934 million. Concurrently, their business-to-business (B2B) division, which furnishes technology and support to other enterprises, expanded by 8%.
Geographically, robust showings in pivotal regions like Great Britain, Italy, Romania, and Portugal propelled their expansion.
Chief Executive Officer Itai Pazner underscored the company’s strategic maneuvers in 2021, notably the significant purchase of William Hill International and the divestment of their bingo operations. These choices refine their concentration on augmenting their core B2C activities and broadening their footprint within the United States.
Pazner also emphasized their successful introduction of the SI Sportsbook in the US, a collaboration with Sports Illustrated, and the debut of 888sport in Germany under the nation’s updated licensing framework. Both of these endeavors capitalize on 888’s proprietary sports wagering platform.
We were incredibly excited to share another period of unprecedented financial gains, achieving substantial increases despite existing obstacles. This accomplishment clearly demonstrates the effectiveness of our analytics-based investment approach and the positive impact of our commitment to premium offerings. We have dedicated ourselves to enhancing our sports wagering and gaming platforms – prioritizing user experience, elevating standards, and ensuring a secure environment for all.”
888 Holdings intends to publish its comprehensive fiscal outcomes for the twelve months concluding December 31, 2021, during March 2022.
