Betting Giant 888’s revenues fell after UK reopening

After the easing of the coronavirus lockdown measures, the British online betting firm 888 has signalled that it’s reopening its outdoor venues on Wednesday.

Although the  London-listed firm shares fell as much as 5% in the morning, investors still expect that the annual profit of 888 will be slightly higher when compared to last year. 

The British retail and leisure spaces reopened on May 17, and since then, the average daily 888 revenues in the UK had been 20% lower than revenues earlier in 2021.

Although nearly a third of gamblers said they tried new gambling activities during the lockdown, 888 still reported that Poker and Bingo revenues fell year-over-year. However, at constant currency rates, 888’s June quarter’s revenue jumped by 10%, making it $257 million.

Analysts from Peel Hunt said that 888 performed well in this quarter and will surely benefit from its overseas expansion plans in the future. 

The next interim report results will be released on September 1.

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