Online gambling company 888 has seen an increase in profits and revenue as betting stores remain closed during the pandemic.
The group said today that it will beat last year’s profit and revenue expectations thanks to strong transactions from 2019 to 2020.
In the six months ended June 30th, group revenues rose 37% to $379.1 million, while pre-tax profits rose 130% year-on-year to $509.0 million.
Group CEO Itai Pazner commented: “We are pleased with 888 deals in the second half of 2020. This performance continues to reflect the strong FTD trends in line with the group’s recreational customer focus and structural changes to online services. Some consumers It is being seen in the industry for which it prioritizes safe gambling and continues to recognize the impact of Covid-19 on the lives of 888 customers across the global market.
“888 continues to invest in protecting its customers and again increased the amount of customer interactions initiated by the 888 safer gambling team to prevent gambling-related harms. With 888 outstanding technology Supported by the core strengths of 888 as a responsible operator, the group is well positioned to bring about even more strategic advancements.”
Looking forward to it, the group says they are entering the New Year with a strong momentum and that “still positioned well to bring about further progress” is aware of headwinds and uncertainty about regulations. Ta.
Last year, the group hired Lord Mendelsorn as new chairman. This was the second Labour Party affiliate to join a gambling company in a week. Former Associate Worker Leader Tom Watson has been announced as a senior adviser at Flutter Entertainment, owner of Paddy Power.
888 shares are trading -0.88% at 301,00 (1444GMT).
