888 Holdings experienced a phenomenal beginning to 2021, as revenue skyrocketed by 56% in the initial quarter, reaching an astounding $2.725 billion. This remarkable surge was primarily driven by the triumphant launch of their exclusive sports wagering system, which accounted for a substantial portion of their earnings – a considerable 76% to be precise – originating from regulated sectors.
The corporation also witnessed a rapid increase in user participation, with new depositing customers rising by 27% and the count of active paying participants leaping by 18%. Their core business, the B2C segment, observed a 57% revenue escalation, hitting $2.628 billion. This was propelled by a boom in wagering activities, with casino amusements up by 68%, sports wagers up by 53%, and poker experiencing a respectable 10% climb. Even their B2B division wasn’t overlooked, enjoying a 20% growth spurt to attain $9.7 million, partly attributed to their bingo products and expansion within the US market.
Chief Executive Officer Itai Pazner was understandably delighted, remarking that the momentum from 2020 had persisted, yielding record-shattering first-quarter figures for both new depositing clientele and revenue. He recognized that while the global health crisis contributed to boosting digital entertainment, the company’s achievements extended beyond that. Pazner was particularly pleased with their novel 888sport platform, which had already gained popularity among users while upholding exceptional client support and risk mitigation.
Looking forward, 888 Holdings has ambitious goals to broaden their US presence, deploying their sports wagering operations across additional states. They’re also collaborating with Caesars Entertainment to introduce their modernized poker platform to a wider demographic.
