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888 profits double during first half of 2021

888 Holdings has reported record performance in the first half of this financial year, with a 39% growth in gross profit.

ProfitsDouble

Geographically, reports say the best markets were Italy (with over 80% growth), UK (with over 50% growth), Romania, Ireland and Portugal. This growth reflects the strength of the brand and the success of its differentiated products.

Itai Pazner, CEO of 888, commented: "The strong momentum from 2020 continued into the first half of 2021, with growth driven primarily by regulated markets, where we believe ongoing market share gains continue to reflect our product-leadership strategy, highly effective data-driven marketing, and our excellent content.”

Along with bigger profits, 888 reported a tax increase from almost $51m (at the end of June 2020) to almost $58m (at the end of June 2021).

As The Group continues to focus on appraising new regulated markets, its main priorities are safer gambling, usability, rich content, entertainment and scalability as the CEO himself mentions: “The Board remains confident that, with 888's advanced technology, products and diversification across markets, the Group remains well-positioned to deliver further strategic progress during 2021 and beyond.”

Earlier this year, 888 Holdings announced a partnership with Authentic Brands Group, the owner of Sports Illustrated.

 


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