888 Holdings experienced a 16% decline in revenue for the final quarter of 2021, reaching $214 million, compared to the corresponding period the previous year.
The firm attributed the decrease, which aligned with their board’s projections, to challenging comparisons with the prior year’s robust results and modifications implemented for regulatory and compliance objectives. B2C revenue witnessed a 17% reduction, settling at $205 million, while B2B revenue saw a 10% rise, hitting $9 million.
Despite this, the entire year’s revenue for 2021 still expanded by 14%, attaining $972 million. 888 credits this accomplishment to their product-focused approach and ongoing growth in regulated sectors.
Throughout 2021, B2C revenue surged by 15% to reach $934 million, with casino and sports wagering expanding by 24% and 4% accordingly. Concurrently, B2B revenue experienced an 8% year-on-year increase, reaching $38 million.
Robust performance in crucial markets such as the UK, Italy, Romania, and Portugal contributed to propelling this expansion.
“2021 marked a year of substantial strategic advancement for 888, as we revealed the transformative acquisition of William Hill International and the divestment of our bingo operations to enhance our concentration on B2C and the US expansion opportunity, and we persist in executing our plan to establish a global online betting and gaming frontrunner,” stated Itai Pazner, Chief Executive Officer of 888.
“Furthermore, we effectively introduced SI Sportsbook in the US shortly after securing our long-term brand collaboration agreement and commenced operating 888sport under a fresh license in Germany, all leveraging our proprietary sports platform.”
The company was delighted to announce an exceptional year, reaching unprecedented earnings and substantial expansion despite a difficult market. This accomplishment highlights the effectiveness of their analytics-based investment strategy and product-centric implementation, which continues to improve the availability, excellence, and safety of their sports wagering and gaming products.”
888 Holdings further indicated that their comprehensive financial performance for the twelve months concluding December 31, 2021, is anticipated to be published in March 2022.