• 73% of group revenue now from regulated or taxed markets
• Casino up 63%, sport 36%, poker 48%, bingo 10%
• Big focus on safer gambling processes
• Product leadership boosting results

888 Holdings posted an impressive set of full-year 2020 figures, praising its progress in regulated markets and product leadership.

Unaudited results showed full-year revenues rose 52% to $849.7 million, with 73% of that now attributable to regulated or taxed markets.

The business was also boosted by product developments in 2020, including the 888sport’s first in-house platform, the launch of the Poker8 software, and an evolving 888casino product with 700 new games.

Safer gambling

While clearly delighted with the growth in revenues, which landed adjusted EBITDA of $155.6 million compared with $92.1 million in 2019, 888 execs were keen to talk up the company’s efforts to promote safer gambling.

Of its operational highlights for the year, the top one was its “continued focus on developing and improving safer gambling processes, with the launch of 888’s Safer. Better. Together strategy”.

The initiative, which comes as regulators demand more work on responsible gaming than ever, includes the launch of Control Centre, which is a one-stop-shop for safer gambling tools for all customers, giving them transparent real-time information about their gambling activities and ways to control what they spend.

The company’s Observer technology employs new algorithms to identify potentially harmful and concerning player behaviour. There was also the “too much is too much” advertising campaign across digital and print channels.

Product Leadership

888 certainly did not hold back on its high-profile releases during 2020, which would have supported and even driven some of the new revenue.

888sport’s new platform was launched across multiple markets and now delivers to the majority of customers worldwide. Owning everything under one roof opens new doors for product and CRM development.

Poker8, a mobile-first poker platform, has been well received by players, and 888poker does now offer a genuine alternative to the sector big-hitters in PokerStars, Party and GGPoker. Poker revenues grew 48% in 2020, though much of this will have been sparked by promotional activity around the new platform launch rather than organic migration towards it.

Overall, 888 Holdings reported a 42% increase in customer acquisition, with nearly one and a half million new players joining its verticals.

With 2021 well underway, the company said the year had also got off to a strong start with growing first-time deposits and revenues.

Itai Pazner

Itai Pazner, 888 Chief Executive Officer, said: “2020 was a landmark year for 888, with our team navigating the many challenges presented by a global pandemic to deliver record financial results and significant progress against our strategic priorities.

“Our product-leadership strategy delivered outstanding results in 2020, with the launch of our ground-breaking Control Centre, our first-ever in-house sportsbook, and a totally new poker platform.

“Our focus on delivering safe, intuitive, content-rich and entertaining products is helping us to deliver a differentiated customer experience and supporting our market share gains in key regulated markets.

“We welcomed a record number of new members to our brands, nearly one and a half million, with our differentiated products and our big data supporting highly effective marketing.

“We are pleased with our continued progress in the U.S., and with three new states set to launch in 2021, we are poised to see the scale benefits of our investments here.

“We enter 2021 with strong momentum, with a record level of customers, and with a positive reaction to our suite of new products and innovations. As a result, as well as 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.”