888 reports 16 decline in Q4 2021 revenue

888 has reported revenue of $214m for the fourth quarter of 2021, a 16% year-on-year decline

888 has reported revenue of $214m for the 4th quarter of 2021, a 16% year-on-year decline.

The decline, according to the company, was inwards product line with table expectations, reflecting a warm comparative degree period unitedly with regulatory and compliance changes. B2C revenue for the full point declined past 17% to $205m, with B2B revenue growing by 10% to $9m.

Revenue for FY21 did, however, raise past 14% to $972m. This, according to 888, was goaded by the continued success of the company’s product-leadership strategy and continued enlargement inwards regulated markets.

B2C revenue for FY21 grew past 15% to $934m, with gambling casino and sports growing by 24% and 4% respectively. B2B revenue in the meantime increased past 8% from the prior-year period to $38m.

The maturation was impelled by warm performances inward the UK, Italy, Romania and Portugal.

“2021 was a year of owing(p) strategic get along for 888 as we proclaimed the transformational acquisition of William James Jerome Hill International, and reached an agreement to sell our bingo concern to growth our focussing on our B2C and US ontogenesis plans, as we go on to execute our architectural plan to establish a planetary online betting and gaming leader,” said 888 CEO Itai Pazner.

“In addition, we successfully launched SI Sportsbook in the US shortly after signing a long-term firebrand partnership and began operating 888sport under a young licence in Germany, all using our inwards put up sports platform.

“I am pleased to study another yr of put down revenues alongside these of import strategical milestones, delivering double-digit revenue ontogeny despite a really tough comparative period. This carrying out reflects the continued success of our data-driven investments and writ of execution against our product-leadership focusing that delivers ongoing improvements inwards the usability, character and refuge of our sports betting and gaming products.”

888 noted that it expects to tone ending its financial results for the 12 months ended 31 Dec 2021 in March 2022.

This news is curated to you by the 918Kiss Singapore.