888 Shares Hit All-time High

International gambling giant, 888, has this week reported its full year revenue figures, seeing its share price jump a huge 6% to 353.2p as a result. 

This is an all-time high for the stock. The spike in revenue has been credited to the brand’s ability to continue engaging players during lockdown albeit with limited sports betting to offer.

The brand saw strong growth in its casino markets which grew by 63%. Poker activity on its platforms also say an increase of 48%. This drove a 53.5% increase in group revenues, which was around 2% above consensus.

Chief executive Itai Pazner said: ‘

We are pleased with our continued progress in the US, and with three new states set to launch in 2021, we are poised to see the scale benefits of our investments here. We enter 2021 with strong momentum, with a record level of customers.’

Gambling consultancy Regulus Partners commented:

‘888’s renewed operational focus and technology investment is clearly paying dividends, with a broad base of momentum that had eluded the group for a number of years.’

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