888 Holdings showing substantial pandemic growth
Already among the world’s largest on line gambling groups, 888 Holdings has been quietly going about its business over the last couple of years and certainly has a good amount of credibility among its clients.
It has certainly been reflected in the newest figures that it posted for the first quarter of 2021; a powerful indicator that the company continues to go from strength to strength. It's been driven with a 56 percent revenue growth, influenced by product innovation and customer acquisition which has thrived in regulated markets.
B2C (Business to Consumer) growth has risen to 57 percent which equals $262. 8 million (68 percent casino and 53 percent for sport), while poker (10 percent) and bingo (eight percent) continue steadily to post absolutely encouraging figures.
Group CEO Itai Pazner has been upbeat about the company’s growth during the last year citing that the unprecedented momentum that was witnessed during 2020 (a staggering feat when taking into account the COVID-19 pandemic), along with a strong begin to 2021 contributed by an increase sought after for digital assets has helped significantly.
He continued to indicate that, despite the suspension and interruption of sporting events, due to the pandemic, how the company has performed in areas is a huge significant contributory factor with this.
What in addition has helped 888 is they've led the way in which on the market, in terms of digital innovation, especially across the company’s new proprietary sports platform that has been been worked on through the enforced break in sports coverage.
New markets and partnerships mean exciting times
While the this past year has provided plenty to be encouraged about, it is believed that this is merely the end of the iceberg, in terms of future growth is concerned is for the business. Because of legislation opening in a number of US states lately for the potentially highly lucrative American online gambling sector, 888 have already been able to put themselves in a prime position to essentially make the most here.
Their sports platform specifically will be utilized in partnership with Caerer’s Entertainment who will provide them an entry into a market whereby their infrastructure will bring with it numerous benefits.
Aided by their highly productive and well regarded B2B division; Dragonfish technologies, 888 is almost uniquely positioned to not only build on the momentum, but also help to establish themselves as one of the leading innovative operator brands in the market. And undoubtedly, the usa.
The amount of customers that await 888 in the US; particularly from the sports betting side can help them to challenge for the number one position in the usa where this really is growing substantially in popularity.
Can anyone challenge?
With the future of William Hill’s European assets thrown into uncertainty, there is the view that 888 (in terms of size and scale), is somewhat of a standalone currently in the industry, rivalled only by the kind of Entain, that has more of a diverse portfolio, though with assets that have their own individual obstacles - especially in the UK market.
As a result of 888’s larger pan-European presence and in addition its reach, it gift suggestions better options on more of a wider scale, as highlighted by the organization growth figures over the last 12 months.
Written for tobjl.info by Adiela de Bruyn on 05-05-2021