Revenue Fell 16% for 888 in Q4 2021
888 saw a 16% year-on-year decline in revenues to $214 million in the fourth quarter of 2021. However, the company has said that this was in line with board expectations and reflected a strong comparative period together with regulatory and compliance changes.
The same period saw B2C revenue fall by 17% to $205 million and B2B revenue increase by 10% to $9 million. Furthermore, revenue for the full year grew by 14% to $972 million, which according to 888, was due to the company’s successful product leadership strategy and continued expansion in regulated markets.
Related:
B2C revenue for 2021 was up 15% to $934 million, with casino and sports increasing by 24% and 4%, respectively. At the same time, B2B revenue increased by 8% to $38 million. Growth was largely driven by strong performances in UK casinos, Italy, Romania, and Portugal.
2021 was a year of outstanding strategic progress for 888 as we announced the transformational acquisition of William Hill International and reached an agreement to sell our bingo business to increase our focus on our B2C and US growth plans, as we continue to execute our plan to build a global online betting and gaming leader. In addition, we successfully launched SI Sportsbook in the US shortly after signing a long-term brand partnership and began operating 888sport under a new license in Germany, all using our in-house sports platform.
He went on to say that he was “pleased” to announce another year of record revenues with double-digit revenue growth despite the “very tough comparative period.” He said that the performance “reflects the continued success of our data-driven investments and execution against our product-leadership focus that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.”
More Business News
RELATED TOPICS: Business
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Revenue Fell 16% for 888 in Q4 2021