Online casino demand rise as 888 reports record sales increase

Online casino demand rise as 888 reports record sales increase

The online casino industry has experienced an increase in demand and popularity over the past year as gaming and betting giant 888 reflects on a positive year in 2021 and records sales increases by more than ten percent.

888 Holdings, which has recently agreed to acquire William Hill International for a fee in the region of £2.2bn, stated that it has had a record year last year following a trading update.

According to reports, the gaming giant’s revenue increased by more than ten percent for the 12 months in 2021 to $972 million, which the firm is attributing in part to the success in multiple jurisdictions, including the UK and Italy.

During 2021, 888 pulled out of the market in the Netherlands due to a new regulatory system that was being introduced within the industry. This in turn is said to responsible for a wobble in sales in the last quarter of the year, a sixteen percent decline on the previous quarter.

However, the company is in the early stages of a new strategic partnership with Sports Illustrated, SI Sportsbook, in Colorado in the United States that it has stated has seen positive initial progress.

This is in addition to the acquisition of William Hill International from Caesars Entertainment, which is expected to complete during the months of April to June. The acquisition will include more than one-thousand retail betting outlets, giving 888 a huge presence in the offline market for the first time in the company’s history.

Reportedly, the company hit many strategic milestones last year as the firm made good progress following the decision to sell bingo operations to focus on other gambling and betting activities, including business to consumer operations and United States growth plans.

Itai Pazner of 888 commented on the sales increase, positive year and ongoing activities:

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 licence in Germany, all using our in-house sports platform.

I am pleased to report another year of record revenues alongside these important strategic milestones, delivering double-digit revenue growth despite a very tough comparative period.

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