Wednesday 28 April 2021 7:30 am

Gambling firm 888 Holdings continues momentum as revenue soars

888 Holdings saw revenue rise by 56 per cent year-on-year during the first quarter of 2021 as the gambling firm continued to grow its casino and sports betting markets.

Revenue shot up to $272.5m during the first quarter compared to $164.6m throughout the same period in 2020, outperforming board expectations.

The rise was led by growth in its casino and sports betting markets, which both rose 68 per cent and 53 per cent respectively.

Following the positive quarterly trading update, shares in 888 Holdings shot up 4.3 per cent as markets opened.

Itai Pazner, CEO of 888, said that the firm’s strong momentum will continue in 2021, despite year-on-year trends being inflated by the disruption to sporting events during the pandemic.

“We remain very pleased with the strong momentum in the business and the continued positive customer reaction to our suite of new products and innovations.

“As a result, and underpinned by the group’s strengths as a product-centric, responsible, and diversified operator, the board believes that 888 has an outstanding platform to deliver continued strategic progress during 2021 and beyond.”

Share
Tags: