888 poker and casino segments fuel 37% H1 growth

By Owain Flanders

888 Holdings saw revenue of $379.1m for the first six months of 2020, a rise of 37% year-on-year.

The operator’s B2C revenue saw an increase of 38% compared to 2019, at $361.3m, while B2B revenue saw growth of 21%, at $17.8m.

Of 888’s B2C revenue, poker saw the highest growth. Poker revenue increased by 56% year-on-year to $36.1m, while casino revenue was the second highest with a 48% increase, totalling $260m.

Sports revenue decreased year-on-year by 1%, with revenue totalling $44.1m. Despite this, the operator said June revenue for sports betting increased by 59% from 2019 – demonstrating the recovery of the vertical after COVID-19 sports cancellations.

Total adjusted EBITDA for 888 increased by 56% to $70.1m, with an adjusted EBITDA margin of 19%.

Profit before tax also saw growth of 130%, totalling $50.9m, while adjusted profit before tax was $50.4m.

According to the operator, its performance during the third quarter has continued to be ahead of the board’s expectations, with average daily revenue up 56% compared to the prior year.

Commenting on the results, Itai Pazner, CEO of 888, said: “888 has performed very well throughout the first half of 2020 with robust year-on-year growth in revenue and Adjusted EBITDA of 37% and 56% respectively.

“This outcome reflects the Group’s continued strong levels of customer acquisition, general consumer trends towards increased use of online services especially during the COVID-19 lockdown period and 888’s relentless focus on product leadership.”


More News

Quentin Martin, CEO of esports  betting company Luckbox, says he is willing to “bet substantial amounts of money with anyone who will take it” that esports betting will become bigger than...

Joonas Karhu, chief business officer at Bojoko, speaks to Gambling Insider about the affiliate’s views on loyalty schemes at online casinos, in the wake of the Gambling Commission’s tighter requirements for...