Gambling Company 888’s Revenue Keeps Rising As Lockdown Boost Fades
Written by, Toni Maglovski
Updated October, 19, 2021
888, British gambling giant has announced a 7% increase in their third-quarter revenue this Tuesday, with the company mainly crediting its expansion efforts.
The gambling firm’s performance is even stronger compared to last year when pandemic restrictions significantly uplifted the online gambling industry, encouraging over 45% of UK citizens to practise gambling.
888’s total revenue reached $229.9 million during the three months prior to September, largely due to the gaming aspect of its business, which caused a 15% counterbalance in business-to-consumer betting revenue.
Sporting events have occupied the virtual space as 888 said. Given the closure of retail shops as well as the continuous thirst for entertainment during Covid-19 lockdowns, betting apps and sites attracted record numbers of customers and thus, earned sizable profits.
Accordingly, 888 made its largest deal ever last month, when the firm agreed to buy William Hill’s non-US assets for a total amount of $3 billion.
The deal provides access to 2 million William Hill customers throughout the UK and a total of 1,400 betting shops.
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