88 Holdings, online gaming entertainment and solutions provider, announced on Thursday a post-close trading update in respect of its results for the year ended 31 December 2020.
Further to the Group's Trading Update on 2 December 2020, 888 announced it continued to deliver a strong performance to the end of the year, with both revenue and active customer numbers in December representing all-time monthly records for the Group. As a result, the Board now expects the Group to report revenue and adjusted EBITDA for the Period moderately ahead of its prior expectations.
"This strong trading continues to reflect increased new customer acquisition that started at the end of 2019 and continued throughout 2020, the positive impact of new products launched during the Period as well as an acceleration in the shift from retail to online services witnessed across multiple consumer-facing industries," the company said.
Whilst 888 has entered 2021 with good momentum, the Board remains mindful of possible headwinds over the coming months including macro-economic and regulatory uncertainties in certain jurisdictions. Notwithstanding, the Board remains confident that, with 888's outstanding product proposition, advanced technology and diversification across global regulated markets, the Group remains well-positioned to deliver further progress.
At 4pm GMT Thursday, the Group will host a webinar event for sell-side analysts. The event will discuss 888's latest product innovations including the Control Centre, the Group's latest safe gambling innovation; Poker8, the Group's new and enhanced poker product; and 888sport's new, proprietary platform that was launched during 2020.