888’s sterling performance continues as it announces another record trading year. Gross gaming revenue saw a staggering 14% uplift, fuelled by its expansion in the regulated market space. Indeed, 74% of the company’s turnover was generated through taxable markets, substantially contributing to their impressive return.
The gaming giant, who operates in various territories throughout Europe, overlooked particularly favourable performance in the UK, Italy, Romania and Portugal. Although its numbers in Germany were slightly disappointing, this shortfall was more than made up by those making up the rest of its European sphere of influence.
The firm also experienced exponential growth in its BTC endeavours, with results up 15 points and revenue sitting at a colossal $934m. Within this, casino performance registered at a 24% uplift on last year, with sports growth slightly behind the curve at +4%.
888.com closed out the year with a -16% Q4 return on 2020’s revenue, but, given current market conditions, this sat broadly in line with the firm’s projections. Chief Executive Itai Pazner heralded ‘a year of outstanding strategic progress,’ a notion evidenced by the group’s tactical sale of its BTC and BTB bingo platform for upwards of $50m. This is further underlined by the firm’s pursuit of William Hill’s non-US assets, which, despite its protracted progress, looks set to complete in the next financial quarter.
Pazner will undoubtedly be pleased to see the business delivering these sorts of numbers, with performance only set to strengthen in 2022 as it chases down its ambitious roadmap.
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