Home ENTERTAINMENT Gambling group 888 loses steam after hitting the jackpot in 2021

Gambling group 888 loses steam after hitting the jackpot in 2021

During the epidemic, gamblers flocked to 888 (888.Lonline )’s casino games, bringing in record revenue, although growth slowed dramatically in the fourth quarter when governments restored COVID-19 restrictions.

888, like other gambling organizations around the world, has profited from increased online interest as a result of the closure of retail establishments and a desire for entertainment options during lockdowns.

Revenue for 2021 increased 14% to $972 million, according to the internet corporation, which also offers poker games and sports betting. However, 888 reported a 16 percent drop in fourth-quarter revenue, which was in line with its predictions, as COVID-19 restrictions were lifted and regulatory changes in the Netherlands led to its exit from that market.
Analysts expect 888’s earnings and share performance to increase this year as a result of the company’s acquisition of William Hill assets, which is expected to finalize in the second quarter.

Last year, the company announced the acquisition of William Hill’s international businesses from casino group Caesars (CZR.O), launching it onto Britain’s high streets with 1,400 physical betting shops.

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