888 Holdings Hit New Heights In Latest Results
Gibraltar-based gambling heavyweight, 888 Holdings, has announced favourable numbers for its 2021 calendar year performance. Over the course of the twelve months, the firm generated a staggering GGR figure of $980.1m, a significant 15% uplift on the previous year.
888’s CEO Itai Pazner, emphasized its growth in the regulated and taxable sector, attributing this success to ‘clear market focus’ in this area. Indeed, 74% of total revenue was generated in this space, accounting for a 17% improvement in fortunes.
Another telling factor on the overall health of the business was its profitability hold, with adjusted EBITDA registering at $165m, a 6% incline on 2020. Gross Profit came in at $647m, in another indication of current strength.
2021 was a landmark year for the bourgeoning operator. 888 now has a presence in the lucrative German market, and added to its considerable licensee portfolio by gaining validation to engage in activity in both Virginia and Ontario. Regulators in the Netherlands are currently mulling over a decision to award the group a native license in their jurisdiction.
Pazner heralded the results as a measure of 888’s competitive edge in ‘product leadership, brands, and customer excellence’. He also stated that these results have been delivered in context of increased focus on social responsibility controls. The organization’s head expressed his optimism for the coming months, stressing that ‘with 888’s advanced technology, products and diversification across markets, the group is well-positioned to deliver long-term sustainable growth for all its stakeholders in the future’.
Indeed, 2022 looks likely to be another bumper year for the multi-channel operator.
