888 Holdings reports 7 growth in Q3 trading update

888 Holdings has announced its Q3 2021 trading update and the numbers suggest modest progress.

The operator generated $229.9m total gaming revenue for the three months ended 30 September 2021, showing a 7% increase year-on-year.

The report showed strong performance in B2C casino gaming, while B2C sports betting declined against a strong outcome in Q3 2020.

Compared to Q3 2019, B2C sports betting revenue increased by 21%. Data also showed particular growth in Italy and Romania.

During the period, 888 announced the acquisition of William Hill International, which will enhance its scale and create new opportunities in several regulated markets.

In July 2021, the group launched the World Series of Poker (WSOP) brand in Pennsylvania under its partnership with Caesars, thus bringing 888’s latest poker platform to the US; WSOP is also set to launch in Michigan by the end of 2021.

Itai Pazner, CEO of 888, put a positive spin on what was a steady but not outstanding set of results: “Q3 2021 was a period of outstanding strategic progress for 888. During the period we announced the transformational acquisition of William Hill International, successfully launched SI Sportsbook in the US, and began operating 888sport under a new licence in Germany as we continued to execute our plan to build a global online betting and gaming leader.

“Alongside these important strategic milestones, I am pleased with the group’s continued positive trading, particularly as we lap very tough comparative periods. This performance reflects the continued success of our data-driven investments and execution against our product-leadership plan that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.

“Underpinned by our advanced technology, products and strong brands, as well as the increased scale, talent and diversification that the group will benefit from as a result of its combination with William Hill International, we have a very exciting platform for long-term growth.”

Source