gaming company, as the British-based online gaming company expands its free-play websites, company officials said Thursday. The previously gray market now came with an onerous 5.3 percent tax on player stakes and a €1 maximum bet on slots.888 Holdings Plc, the parent company of 888 Poker, has signed its second deal with a U.S. Record Revenues, Record FineĨ88 said it faced headwinds in 2021 in the form of tightening regulatory controls, particularly in Germany, which launched its new online gaming regime in July. In December, the company announced it would offload its bingo business so that it could focus on the US and its core offerings. Pazner said that the burgeoning US market remained a “huge opportunity,” and 2021 had seen “great progress in creating a platform for profitable long-term growth in the market, with most of the required assets already now in place.” “This step-change in scale has come from a clear market focus on regulated markets, which now make up three quarters of revenue, and where we are seeing really positive market share trends.” It was another record year from a financial perspective, and we have truly transformed the scale of the business over the past two years,” said 888 CEO Itai Pazner in an earnings call. It expects to complete the transaction in the second quarter of this year. to acquire William Hill’s non-US assets for $US3 billion. In September, the company announced it had reached a deal with Caesars Entertainment Inc. ‘Transformed Scale’ĭespite record results, 888 did not declare a final dividend, citing “potential capital requirements expected as part of the pending William Hill transaction.”

Meanwhile, anti-gambling campaigners expressed concern lockdown was creating a perfect storm for an escalation in problem gambling. The UK Gambling Commission reported the highest online slot yield in UK history for March, the last month of full lockdown.

Annual revenue from those core markets, the UK, Italy, and Spain, rose 18 percent year-on-year, the company said.Īs an online-only business, 888 was well-positioned to benefit from the drift towards new forms of online entertainment by a housebound populace. That yielded profit before tax of $81.3 million, up 205 percent on the year prior. The London-listed company said revenue for the year ending December 31, 2021, was at an all-time high of US$980.1 million, up 15 percent om the previous year.

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