888, one of the world's leading online betting and gaming companies, has announced a trading update for the three months ended March 31.
There was revenue growth of 56 per cent, driven by product-leadership strategy, long-term positive customer acquisition trends and continued expansion in regulated markets
B2C revenue increased 57 per cent to $262.8m led by growth in casino (68 per cent) and sport (53 per cent), with continued growth in both poker (10 per cent) and bingo (eight per cent).
Itai Pazner, CEO of 888, commented: "The strong momentum in 2020 has continued into the first quarter of 2021, with a new all-time-high for FTDs and revenues, although year-on-year trends were partly inflated by the disruption to sporting events at the end of the prior year perio, and increased demand for digital entertainment during this period across our main markets.
"Our differentiated products and our data-driven marketing continued to underpin strong progress, supported by a favourable industry backdrop. We are particularly pleased with the strong performance of our new proprietary 888sport platform, which is already servicing the majority of bets while maintaining strong customer service levels and highly effective risk management and trading.
"We are excited about the US, where we plan to roll out sports into further states in the next few months and launch our upgraded poker platform into further states in partnership with Caesars and their leading and hugely popular WSOP brand.
"We remain very pleased with the strong momentum in the business and the continued positive customer reaction to our suite of new products and innovations.
"As a result, and underpinned by the group's strengths as a product-centric, responsible, and diversified operator, the board believes that 888 has an outstanding platform to deliver continued strategic progress during 2021 and beyond."
