- 888casino foments deep roots in the global gaming market with licensing and regulation across multiple markets.
- 888casino remains the benchmark of excellence in the online casino industry throughout 2020
- 888casino performs well above expectations with a strong financial showing in 2020
888casino the premier online casino of internationally-celebrated gaming enterprise 888 Holdings PLC remains just as relevant in 2021, courtesy of innovative leadership and a clearly-formulated strategic vision. 888casino, the longest-running online casino brand in the company, is a multi-award-winning operator with accolades from the world’s premier gaming authorities over the years. Now operational around the world, 888casino enjoys a strong presence in scores of regulated authorities including New Jersey, Nevada, Denmark, Romania, Italy, Spain, the United Kingdom and beyond.
With an established player base numbering in excess of 25 million registered players, 888casino leads from the front. The brand is available in 17+ languages, across 13+ countries, with full mobile functionality on Android, and iOS devices, with dedicated apps for the Google Play Store, and the App Store. A finalist in multiple awards categories in 2020, 888casino cuts a fine form with fans and industry aficionados alike. In 2019, 888casino was honoured with the EGR Award for Casino Operator of the Year, a tribute to the enduring excellence of the brand, and the operator. 888casino’s dominance in 2020 was particularly inspiring, given the tumult in global economy.
888casino Performance in 2020
In anticipation of a bumper year in 2020, 888 Holdings announced in December 2020 that it expected a 45% rise in full-year revenues. Improved customer acquisition numbers have fuelled robust growth at 888 Holdings, with 888casino at the forefront of gaming-related growth. The shift from consumer retail to online gaming has fast-tracked the popularity of the 888casino brand. 888casino has focused tremendous energy on player safety and security, and the provision of responsible gaming conduct. On a positive note, 888casino anticipates earnings well ahead of forecasts.
For 2021 888casino is coming into the new year red hot. The 888 Group has already secured vital licensing contracts with Germany – a critical European market. Plus, there are plans afoot to boost the online brand’s presence in multiple US states including Iowa, Indiana, and Colorado. Viewed in perspective, these moves mean that 888 will be operational in New Jersey, Nevada, Delaware, Colorado, Indiana, and Iowa. Strategic partnership building remains an integral cog in the growth-oriented strategy of 888.
The company’s results for the half year ended on 30 June 2020 were particularly encouraging. Among the major achievements of the brand were the following:
- Strong current trading
- Strong US revenue growth
- Product-centric strategy accelerated
- Record revenues, EBITDA and new customers
- Continued operation and delivery during remote working
- Enhanced focus on customer protection & safer gambling
- Improved marketing efficiencies and disciplined cost control
- Benefitted from a macro trend of consumer transition to online
- Robust balance sheet, cash generation and net cash – no leverage
- Maintaining 888casino leadership through new AI features, proprietary content
By the end of H1, 2020, casino-related revenue was up 48%, progress in regulated markets was up 41%, and new customer acquisitions increased, led in strong part by casino growth (72%). The company’s balance sheet reflected cash and cash equivalents of $141M, with $77M net of customers’ deposits. Viewed in perspective, these figures represent robust growth which was mirrored in preliminary reports ahead of H2, 2020 figures.
From an earnings perspective, casino revenue was up 69% year-on-year over H1, 2019. Further, 888 has enjoyed increasing exposure in regulated markets around the world. Casino revenue was up 48% to $260M, from $175M in H1 2019. A 51% increase in terms of constant currency was reported, with a 72% uptick in First Time Depositors (FTDs). The CAGR (Compound Annual Growth Rate) was 16% half-yearly, over the long-term.
From a stock perspective, 888 Holdings PLC stock (LON:888) is up markedly over the past 6 months. The stock is trading around 306.50 GBX on February 3, 2021, from 184.00 GBX on August 3, 2020. On every level, 888 is looking to capitalize on its powerful position as a market dominant force in the online casino industry.