888, one of the world’s leading online betting and gaming companies, has announced a post-close trading update for the three months ended June 30th, 2021.
Revenue growth of 10 percent was driven by the continued success of the Group’s product-leadership strategy, long-term positive customer acquisition trends, and continued expansion in regulated markets.
Growth was also driven by regulated and taxed markets, which contributed 74 percent of revenue with strong performances in the UK, Italy, Spain, Romania, and Portugal offset by the impact of the new regulation in Germany.
B2C revenue increased 11 percent, led by Casino and Sport, with Sport growth boosted by a reduced number of sporting events in the prior-year period.
Poker and Bingo revenues were lower than the prior year, reflecting exceptionally strong performance during the prior-year period.
The strategic partnership with Sports Illustrated to provide 888 with a platform for strong U.S. growth.
The German regulator awarded a sports-betting license to 888, reinforcing 888’s position as one of the most-licensed global online betting and gaming companies. These were accompanied by continued strong cash generation and a robust balance sheet.