888 Holdings has published the semi-annual results corresponding to the period ended June 30, 2021. In this regard, the group reports a record of income and profits for the first semester that reached $ 528.4 million, which means an increase of 39 % in total revenue.
From the extensive report presented by 888, we highlight the following financial aspects:
- Group revenue increased by 39% with double digit B2C growth in all major regulated markets
- Revenue from regulated and taxed markets represented 75% of Group revenue (H1 2020: 73%), with over 50% growth in regulated markets revenue
- Adjusted EBITDA of $ 97.4 million (H1 2020: $ 70.1 million)
About operational and strategic aspects in key markets, the company highlights growth of more than 80% in Italy and more than 50% in the United Kingdom.
In terms of product leadership strategy, the group reports that the 888sport platform was deployed in most markets, supporting strong growth in betting revenue. This sports betting platform allows customers to play and bet with unique products like BetFinder, BetFeed and BetBuilder, as well as personalized recommendations.
Meanwhile, 888casino continues its leadership with the launch of more than 435 new games. Section8, 888's in-house game studio, continues to produce high-quality games with customers now enjoying over 140 exclusive titles, consistently among some of the most popular games.
Likewise, the group values its strategic association with Sports Illustrated, which is essential for strong growth in the United States.
Referring to the financial results of the first half of 2021, Itai Pazner, CEO of 888, commented: "The strong momentum from 2020 continued into the first half of 2021, with growth driven primarily by regulated markets, where we believe ongoing market share gains continue to reflect our product-leadership strategy, highly effective data-driven marketing, and our excellent content”.
Pazner also underlined the great work carried out to provide additional improvements in the usability and quality of products in sports and gaming, all of this from the hand of responsible gaming.
Looking ahead, the CEO commented on the board's confidence that, with advanced technology, products, and diversification across 888 markets, the Group remains well positioned for further strategic progress.
READ FINANCIAL RESULTS FOR THE FIRST HALF OF 2021
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