888 Holdings experienced a 16% year-on-year decrease in revenue for the final quarter of 2021, reaching $214 million.
The company anticipated this reduction, primarily attributing it to exceptional results during the corresponding period in the previous year. Furthermore, adjustments in regulations and compliance also played a role in the downturn. Analyzing the revenue breakdown, B2C revenue declined by 17% to $205 million, while B2B revenue showed a 10% rise, reaching $9 million.
However, for the entirety of 2021, revenue demonstrated a 14% increase, amounting to $972 million. 888 credits this achievement to its product-focused approach and ongoing expansion within regulated markets.
Examining the complete 2021 figures, B2C revenue surged by 15% to $934 million, with casino and sports segments experiencing growth of 24% and 4% respectively. Concurrently, B2B revenue saw an 8% year-over-year rise, reaching $38 million.
The company emphasized robust performances in the UK, Italy, Romania, and Portugal as significant contributors to this expansion.
“2021 marked a year of substantial strategic advancements for 888, during which we unveiled the transformative acquisition of William Hill International and finalized an agreement to divest our bingo operations, allowing us to further prioritize our B2C and US growth strategies as we persist in executing our vision to establish a global online betting and gaming leader,” stated Itai Pazner, CEO of 888.
“Moreover, we successfully introduced SI Sportsbook in the US shortly after securing our long-term brand collaboration and have commenced 888sport operations under a new license in Germany, all leveraging our proprietary sports platform.”
We were excited to announce that, even with a difficult year, we not only reached important targets but also secured another year of unprecedented financial success, experiencing substantial growth. This accomplishment reflects the effectiveness of our analytics-based investment approach and dedication to providing exceptional services. We are continuously striving to enhance our sports wagering and gaming systems, focusing on user interface, dependability, and safety.”
888 Holdings intends to publish its complete fiscal outcomes for the year ending December 31, 2021, at some point in March 2022.
