B2C revenue for the period amounted to $215m, down 18% year-on-year, with B2B revenue declining 6% to $9m. B2C Gaming declined 14% year-on-year to $191m, with B2C Betting declining 42% to $24m.
The group reported several highlights for the period, including the launch of WSOP in Michigan, and its licence for 888 in Ontario. There was also further progress towards the acquisition of William Hill, as well as the launch of the new Made to Play master brand campaign in the UK, uniting all 888 brands under one proposition.
888 also noted that key regulated markets - the US, Romania and Portugal - delivered a strong performance, helping to offset a larger year-over-year decline in the UK, which was impacted by market-wide trends, such as increased player restrictions.
“The start of 2022 has been another busy period of progress for 888,” said 888 CEO Itai Pazner. “We have launched in Michigan and Ontario, with Virginia planned to follow in May.
“Having revised the transaction terms for William Hill and completed an equity placing to part-fund the deal, we are on track to complete in June and continue to execute our plan to build a global online betting and gaming leader.”
Pazner added: “Alongside these important strategic milestones, Q1 2022 revenue was slightly ahead of Q4 2021 as we previously announced. I am pleased with the group’s progress, and we are looking forward to returning to year-over-year revenue growth in the second half of the year, as we benefit from further launches in additional US states, together with our expectation of relaunching in the Netherlands and ramping up our recent launch in Ontario.”
