Similarly, revenue from the group’s core markets, which include the UK, Italy and Spain, has risen by 18%. In addition, growth markets are up by 26% and B2C revenue by 16%.
However, despite these positives, Q4, in particular, saw an overall decline in B2C revenue of 14% with an accumulated decline of 4% in H2.
Looking forward to this current year, investor focus is set to be aimed at the strategic development of the company, including the acquisition of William Hill, which is expected to complete in Q2 2022. Through this acquisition, the company is set to almost triple in size, with management anticipating positive future returns from this development.
It is expected that investors will also be keen to watch the current sale of 888’s Bingo Business, which is priced at $50m, as well as any impact that may be felt from the increased investment to in-house studio, Section8.
Edison Group believes 888 Holdings will face “several potential headwinds within the UK,” most notably from a £9.4m ($12.4m) fine it received relating to a series of social responsibility and money laundering failures earlier this year. Alongside this, the company will face upcoming regulatory changes as well as an impact from the increased cost of living.
Edison concluded with the overall note that despite concerns, “these results reflect good global performance and place them in good stead for the year ahead."
