888 Holdings reports “strong momentum” as Q1 revenue grows 56%

By Gambling Insider

888 Holdings has reported year-on-year revenue growth of 56%, to $272.5m, for the first quarter of 2021.

Growth in regulated markets contributed to 76% of its revenue, as the operator successfully deployed its in-house sports betting platform.

888 reported more players across its platforms as first-time depositors (FTDs) went up by 27% and there was an 18% increase in funded active players.

B2C revenue had a similar increase of 57% to $262.8m as casino grew by 68%, sport by 53% and poker 10%.

The operator's B2B division grew by 20% to $9.7m, with bingo and US operations spearheading this rise.

Itai Pazner, 888 CEO, said: "The strong momentum in 2020 has continued into the first quarter of 2021, with a new all-time-high for FTDs and revenues, although year-on-year trends were partly inflated by the disruption to sporting events at the end of the prior year period, and increased demand for digital entertainment during this period across our main markets.

“We are particularly pleased with the strong performance of our new proprietary 888sport platform, which is already servicing the majority of bets while maintaining strong customer service levels and highly effective risk management and trading.”

Pazner added that 888 hopes to expand in the US and roll out sports betting in different states, as well as launching its upgraded poker platform in further states in collaboration with Caesars Entertainment.

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