888 Holdings has announced its financial results for 2020, in which its revenue grew by 51.6% despite the impact of COVID-19.
Online casino gaming enjoyed a sizeable rise, while sports betting also generated more cash compared to the previous year.
The UK continued to be the operator’s most important market, while the Americas – including the US – contributed over 10% of earnings.
How did 888 do in each vertical?
Overall, 888 generated $847.9 million in revenue over the course of 2020. In 2019, the operator had brought in $560.3 million.
Casino far outperformed other verticals. Revenue in this respect reached $586.8 million, demonstrating a 63.3% year-on-year rise. 888 launched 44 new games on its Section8 games studio, which contributed greatly to this.
2020 also saw 888 roll out its first sports betting platform. This vertical brought in $122.1 million, which was 35.7% higher than had been the case in 2019.
Poker revenue also rose. The operator made $63.1 million, which was 47.8% higher than had been the case in the previous year.
Also enjoying a revenue rise was bingo, albeit to a lesser extent than the other verticals. Bingo generated $42.3 million, which was 9.9% higher than in 2019.
Of its overall revenue, B2C operations contributed by far the most at $814.3 million. This was 54.5% higher than the year before.
B2B operations also result in revenue jump
Though B2B was not as important for 888’s overall revenue, the channel still enjoyed reasonable growth. Revenue increased year-on-year by 18.9%, coming up to $35.4 million in total.
The UK made up the bulk of 888’s overall revenue. At $333.5 million, the market was responsible for 39% of its income.
The EMEA region, consisting of Europe, the Middle East and Africa, brought in 30% of the company’s total annual revenue. Operations in these parts of the world generated $253.4 million.
Elsewhere in the world, the Americas brought in 11% of revenue. These regions contributed $93.7 million.
Italy contributed an extra 10%, with Spain responsible for 8%. The rest of the world added an extra 2% to the overall figure.
888 Chief Executive Itai Pazner said: “2020 was a landmark year for 888, with our team navigating the many challenges presented by a global pandemic to deliver record financial results, and significant progress against our strategic priorities.
“Our product-leadership strategy delivered outstanding results in 2020, with the launch of our ground-breaking (responsible gambling solution) Control Centre, our first ever in-house sportsbook, and a totally new poker platform.
“Our focus on delivering safe, intuitive, content-rich and entertaining products is helping us to deliver a differentiated customer experience and supporting our market share gains in key regulated markets.”