Written by, Toni Maglovski
Updated September, 1, 2021
Lockdown betting has positively impacted the gambling giant 888, as the company reported that its total revenue has increased over 40 per cent in the first six months of 2021.
888 reveals that they earned nearly $530 million up to the 30th of June 2021, rising from $379.1 million in the first two quarters in 2020 mainly due to their betting subdivision.
The company also reported a 50% increase from its UK revenues, while its global revenue grew over 70% in the same time frame. Trading per share came at 420.8p, whereas shares were 3.24 per cent later in the morning.
But despite the revenue success, 888 noticed that in July and August, the revenue slowly began to decline because of easing restrictions and customers targeting their money for retail and leisure centres.
In the same period last year, the company earned over $250 million mostly due to new lockdown customers looking for a new money-spending activity.
888’s basic share earning increased as well from 11 per cent to 13.7 cents per share, making the company in a strong position for 2021 and the following years.
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