888 cites period of ‘outstanding strategic progress’ in Q3 update

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Online betting and gaming firm 888, now active in the US with its SI Sportsbook launched in Colorado, has posted its Q3 trading update for the period ended September 30 2021. 

In the report, the firm told investors that it maintains strong trading momentum against tough period comparatives, with group revenues hitting $230m, ahead by 7% on 2020 corresponding results of $216m. 

Sustained period growth in 888’s B2C Gaming unit saw an 11% uplift in revenues to $194m versus $175m year-on-year. Gaming growth helped offset a 15% decline in B2C betting revenues of $27m (Q3 2020: $32m). 

CEO Itai Pazner commented: “Q3 2021 was a period of outstanding strategic progress for 888. During the period we announced the transformational acquisition of William Hill International, successfully launched SI Sportsbook in the US, and began operating 888sport under a new licence in Germany as we continued to execute our plan to build a global online betting and gaming leader. 

“Alongside these important strategic milestones, I am pleased with the group’s continued positive trading, particularly as we lap very tough comparative periods. This performance reflects the continued success of our data-driven investments and execution against our product-leadership plan that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.

“Underpinned by our advanced technology, leading products, and strong brands, as well as the increased scale, talent and diversification that the group will benefit from as a result of its combination with William Hill International, we have a very exciting platform for long-term growth.” 

In its Q3 business review, 888 described the period as one of significant progress. The transformational acquisition of William Hill International will, it said, significantly enhance the enlarged group’s scale and create leading positions in several key regulated markets. 

The firm noted: “In addition, the group continued to deliver on its long-term growth strategy in the US market with the successful launch of SI Sportsbook in Colorado, utilizing 888’s in-house sports betting platform for the first time in the US.”