888 Holdings Raise Full Year Expectations
Online gambling operator 888 Holdings announced their second quarter results and at the same time said they expected full year earnings to be ahead of expectations.
Revenues rose by 10% for the quarter to $257 million within both the 74% of its regulated markets and other areas, the company said business performed well in UK, Italy, Spain, Romania and Portugal against the impact of new regulations in Germany.
Comparisons with poker and bingo against last year were lower but the impact of the COVID-19 pandemic so were not really comparable because all of the land based gambling venues were closed.
Itai Pazner the CEO of 888 said: “I am pleased to report that the strong momentum from the first quarter of 2021 continued into the second quarter, albeit with the year-on-year growth rate moderating in light of stronger comparables from the prior year. Growth was driven primarily by regulated markets, where we believe ongoing market share gains continue to reflect our product-leadership strategy, highly effective data-driven marketing, and our excellent content.
In addition to strong trading across our core European markets, we made significant strategic progress during the period in the attractive US market, where we announced a long-term strategic partnership with Sports Illustrated. We look forward to launching SI Sportsbook as a key pillar of our strategy to drive increased growth in the US.
The Board remains confident that, with 888’s advanced technology, products and diversification across markets, the Group remains well positioned to deliver further strategic progress during 2021 and beyond.”
