888 was founded in 1997 and went public in 2005. The company operates within the online gambling sector using a lot of proprietary products rather than relying on outside companies. They operate their own brands across sports betting, casino, bingo, and poker, as well as running their subsidiary company, Dragonfish, which creates in house casino games and software solutions, so they can also run on their own platform. As of 2019, the majority of the company’s revenue (64%) was generated from online casino wagering, with sports betting accounting for another 16%. Another income stream for 888 Holdings is their B2B vertical, licensing out their platform, bingo, and poker networks.
They do a lot of business in the United States of America where their poker product in particular is industry leading, but they have also moved into the Italian, Portugese, and Swedish markets in recent years, seeing record numbers of new sign ups in 2019. The UK accounted for just 36% of their revenue in 2019 so 888 have a more global outlook than some of their competitors trading on the LSE, with ambitions for huge expansion over the next few years.
|After Tax Profit