888 Holdings

888 Holdings, the online gaming giant reported growth of more than 80 per cent in Italy as it announced its half year results to the end of June.

At the same time, the company reported a 50 per cent growth in UK revenues, both factors reflecting strong acquisition and customer activity trends. As a result, 888 is projecting an increased full year expectation.

Revenue for the group was $528.4m, up 39 per cent on the $379.1m of the same period last year. Gross profit was $352.4m compared with $250.9m, up 40 per cent, and adjusted EBITDA was $97.4m compared with 70.1m, up 39 per cent.

The big factor was B2C betting, showing an 82 per cent rise with regulated and taxed markets representing 75 per cent of its group revenue.

The keynote features of the year were the rolling out of the 888sport platform in most markets and strong betting revenue growth. Over 435 new games were launched on the 888casino product.

There was also a US partnership with Sports Illustrated and the SI Sportsbook will go live in Colorado this month and into other states planned, while the B2B business in the US extended into Pennsylvania.

CEO of 888 Holdings Itai Pazner said: “The strong momentum from 2020 continued into the first half of 2021 with growth driven by regulated markets. We have strengthened our position in the US and continue to execute our product leadership plan.”

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