The iGaming giant, which operates within the UK online gambling market, made a great announcement for its stakeholders. The company stated that it witnessed a great surge in profits and revenues. They covered the 1st half of the annual year in the market. The company sees that these great figures are thanks to the increase of gaming products and the increased access to the consumers and the general public. Despite the iGaming profits in great numbers, sports betting declined slightly.
888 Holdings Releases its 1st Half Numbers for 2020
The gambling operator stated that it had witnessed a great increase in profits. The profits increased from 56.1% to 131%, which is more than double. The Business to Company revenue starting from January to the 30th of June grew by £282 million. The casino services, including the UK market, alone increased by 48.2 percent, with takings that reached 260 million dollars. These numbers succeeded in taking 888 Holdings to the top of the lists. When it comes to gaming, including casino games and card games, poker was the one digital service that grew the most. It witnessed a 56.3% increase in revenue, becoming the biggest performer for this year. On the other hand, bingo products witnessed the smallest growth in revenue, with a slight increase of 8.2%.
888 Holding’s Sports Betting Services Underperformed for 2020
Not all 888 Holding sectors increased in revenue, as Sports Betting was the service that witnessed a decline. The revenue from sports betting declined by 0.9%. On the other hand, the company is not worried about such a decline. It stated that these numbers were expected due to the many cancelations and delays in the sports industry during this year. Nonetheless, the great figures from other products made up for such decline and gave 888 Holding’s a reason to celebrate. The company also expects that with sports returning back to normal, the second half of 2020 will see profit in that sector, which would result in an overall year profit. In fact, in January and February, sports betting saw a 22% increase in revenue before the delays and cancellation of sports started pouring in.
As for the B2B revenue, it also increased by 20.3 percent, which is the equivalent of 17.8m dollars for the half-year period. It is a true testament to the successful direction of 888 Holding. It is continuing with its customer acquisition and increasing its UK online casino gambling services.
888 Holding’s Care Towards Problem Gamblers
H1 also saw a great number of accounts being restricted from gambling. It shows how 888 Holdings cares for the wellbeing of its players. In the United Kingdom, the company works closely with the UK Gambling Commission to achieve just that. The operator started enforcing additional protection protocols with new algorithms to help identify problem gamblers to minimize gambling harm.