888 Holdings posts 52% revenue rise for full year 2020

By Peter Lynch

888 Holdings has reported full year 2020 revenue of $849.7m (£608.9m), a 52% rise from the prior-year period.

Casino operations represented $586.8m of the total, a 63% rise from 2019. Sport and poker followed with revenues of $122.1m and $63.1m respectively, representing rises of 36% and 48% respectively. Bingo meanwhile rose 10% to $42.3m.

Adjusted profit before tax rose 118% year-on-year to $116m, with adjusted EBITDA increasing by 69% to $155.6m.

Operational highlights for the 12 months to 31 December 2020 included a 63% growth in UK revenues, and a 69% growth in Italy, with the latter posting new customer growth of 43%.

“2020 was a landmark year for 888, with our team navigating the many challenges presented by a global pandemic to deliver record financial results, and significant progress against our strategic priorities,” said 888 CEO Itai Pazner.

“Our product-leadership strategy delivered outstanding results in 2020, with the launch of our ground-breaking Control Centre, our first-ever in-house sportsbook, and a totally new poker platform.

“Our focus on delivering safe, intuitive, content-rich and entertaining products is helping us to deliver a differentiated customer experience and supporting our market share gains in key regulated markets.”

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