Revenues up at 888

By Simon Wright, Last updated Feb 4, 2021

The online gambling firm 888 Holdings, which operates brands such as 888 Casino , Costa Bingo and 777 Casno, have today published their financial results for the year ended 31st December 2019, with the figures showing a strong growth in revenue for the group.

Revenue for the group as a whole rose by 6%, to $560m compared with $530m reported at the end of 2018. Of that growth in revenue, this was attributed to the casino operation as well as entry into new regulated markets.

The group also reported a strong balance sheet, with nearly $100m in the bank, of which net of customer deposits this amounted to $45m. In releasing their trading report for the year, the board at 888 Holdings recommended a final year dividend of 3 cents per share.

Commenting on the results for 2019, Chief Executive Officer, Itai Pazner, said: “We continue to recognise that with people spending more time at home and with increased levels of stress and economic uncertainty, 888’s unwavering commitment to preventing gambling related harm is even more important than ever.”

“We are proactively communicating with our customers to provide information on safer gambling and, where necessary, offer support. In addition, in recent weeks we have introduced several new alerts to our proprietary safe gambling software, the Observer, which constantly scans all customer activity and flags any potential areas of concern to our highly trained customer care team to act upon in order to prevent harm.”

“Underpinned by the strength of 888’s technology, our growing customer base and our talented and committed team, the Board continues to see a number of significant and exciting growth opportunities for 888 which we are confident of progressing during 2020 and beyond.”

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