888 Holdings revenues up on casino, sports markets

Gambling firm 888 Holdings reported a better-than-expected 56% increase in first quarter revenues driven by its casino and sports betting markets.

The company said revenue in the three months to March 31 soared to $272.5m from $164.6m a year earlier.

Casino and sports betting markets rose 68% and 53% respectively, despite disruption to sporting events during the pandemic.

“We remain very pleased with the strong momentum in the business and the continued positive customer reaction to our suite of new products and innovations,” said chief executive Itai Pazner.

“As a result, and underpinned by the group’s strengths as a product-centric, responsible, and diversified operator, the board believes that 888 has an outstanding platform to deliver continued strategic progress during 2021 and beyond.”