Another record year has been reported for 888, the online betting and gaming operator, after a year of "strong organic growth and operational progress."
The group’s revenues grew from $849.7m by 15 per cent to $980.1m, reported CEO Ital Pazner (pictured). Profit before tax grew by over 200 per cent from $26.7m to $81.3m. Revenue was a new record, said Pazner.
He said: “Alongside the strong organic growth and operational progress, 2021 was a busy year for strategic expansion, including the long-term strategic partnership with Sports Illustrated and launch of SI Sportsbook, the announcement in September of our proposed acquisition of William Hill, and the sale of our bingo business as we look to increase focus on our core B2C strategy.”
Revenue from regulated and taxed markets represented 74 per cent of group revenue. Adjusted EBITDA was $165m compared with $155.6m.
The group’s core markets are the UK, Italy and Spain and were up 18 per cent, while "growth" markets were up 26 per cent. These included Canada, Romania and Ireland. The group launched 888sport in Germany and was awarded a licence in Virginia and Ontario and is in the process of applying for a licence in the Netherlands.
The plans for North America include the partnership with Sports Illustrated and a new sports book in Colorado with plans to launch in three or four additional states this year.
