888 Holdings Reports Significant Revenue Growth in First Half of 2020
888 Holdings experienced a substantial revenue surge in the initial six months of 2020, primarily attributed to robust results in its poker and casino verticals. The firm announced a 37% year-over-year revenue climb, reaching $379.1 million.
This expansion was chiefly fueled by a spike in 888’s direct-to-consumer operations (B2C), which witnessed a 38% leap to hit $361.3 million. Poker emerged as the top performer, with revenue soaring by 56% to reach $361 million. Casino offerings followed closely, registering a 48% revenue increase, totaling $260 million.
Although sports wagering revenue experienced a minor decline due to the effects of COVID-19 on live sporting competitions, 888 observed a significant resurgence in June, with revenue in this segment surpassing pre-pandemic figures.
In summary, 888’s CEO Itai Pazner conveyed considerable contentment with the company’s performance, emphasizing the substantial growth in both revenue and earnings. He further indicated that the positive trajectory has persisted into the third quarter, with average daily revenue considerably outperforming the prior year.
The coalition’s triumph persists, driven by their talent for acquiring fresh clientele, a spike in online service requirements during the pandemic restrictions, and 888’s unwavering dedication to offering top-tier products.
