888 Holdings reports strong revenue growth in first quarter 56

888 Holdings reported year-over-year revenue growth of 56% to $ 272.5 million in the first quarter of 2021.

Growth in regulated markets generated 76% revenue as the operator successfully rolled out its own sports betting platform.

888 reported an increase in the number of players on its platforms as the number of first-time depositors (FTD) increased by 27% and the number of active players with funding increased by 18%.

B2C revenue increased 57% to $ 262.8 million, with casino growth at 68%, sports at 53% and poker at 10%.

The operator's B2B business grew 20% to $ 9.7 million, with bingo and US operations leading the rise.

Itai Pazner, CEO of 888, said: “The strong momentum in 2020 continued into the first quarter of 2021, with a new all-time high for FTD and revenue, although annual trends were partially inflated by disruption to sporting events at the end of the previous year period and growing demand for digital entertainment during this period in our main markets.

"We are particularly pleased with the strong performance of our new proprietary platform 888sport, which already caters for most bets while maintaining a high level of customer service and highly efficient risk management and trading."

Posner added that 888 hopes to expand into the United States and roll out sports betting in different states, as well as launch its updated poker platform in other states in partnership with Caesars Entertainment.

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