888’s revenue analysis of 2021
888, online casino and sports betting company, announces a decrease of 16 percent in GGR reaching $214 million in the last quarter of 2021.
As 888 reports, the decrease reflects the serious competition in the industry together with regulatory changes. B2C revenue in Q4 had a drop by 17 percent to $205 million. Meanwhile, B2B revenue had an increase by 10 percent to $9 million.
However, 2021’s financial budget increased by 14 percent reaching $972 million, as a result of footprint amplification in regulated markets. B2C and B2C revenues increased by 15 percent to $934 million and 8 percent to $38 million respectively, compared with the results of the previous year.
The company recorded growth in GGR as a result of good performances within Italy, Great Britain and Portugal.
The chief executive of 888, Itai Pazner, remarked:
“Our brand has seen a notable advancement as we managed to sell our bingo product and concentrated on B2C’s advancement and US expansion plan. Besides, we reached an agreement acquiring William Hill International”.
As a huge achievement, Pazner mentions SI sportsbook’s release within the United States and 888sport’s license acquisition and operation within Germany.
“We are thrilled to announce another year of record-breaking results together with such huge achievements despite the strong competitive period.”
888 intends to release its financial analysis of 2021 in March this year.