Q4 revenue falls despite positive year for 888
Q4 saw a 16% year-on-year decline, while yearly revenue grew by 14%.
888, a gaming operator with offerings in the UK, Italy, Portugal and the US, has announced its financial results for the final quarter of 2021. Ultimately, Q4 saw revenue fall for the operator, coming in at $214m, a 16% year-on-year decline.
According to reports by the operator, this decline had been foreseen and was in line with board expectations. Specifically, Q4 saw B2C revenue fall by 17% to $205m. Meanwhile, B2B revenue saw a boost, growing 10% to $9m.
Overall, 2021 was a positive year for the operator, with the company making strides in the US through a partnership with Sports Illustrated that ultimately led to the launch of the SI Sportsbook.
“2021 was a year of outstanding strategic progress for 888 as we announced the transformational acquisition of William Hill International, and reached an agreement to sell our bingo business to increase our focus on our B2C and US growth plans, as we continue to execute our plan to build a global online betting and gaming leader,” noted 888 CEO Itai Pazner.
“In addition, we successfully launched SI Sportsbook in the US shortly after signing a long-term brand partnership and began operating 888sport under a new licence in Germany, all using our in-house sports platform.”
In total, B2C revenue for 2021 grew by 15% to $972m, an increase boosted by the company’s expansion into regulated markets.
Pazner was positive when reflecting on the year as a whole.
They said: “I am pleased to report another year of record revenues alongside these important strategic milestones, delivering double-digit revenue growth despite a very tough comparative period. This performance reflects the continued success of our data-driven investments and execution against our product-leadership focus that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.”
Further financial results are set to be released in March 2022.
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