888 hails casino and sport success in first half

888 hails casino and sport success in first half888 has cited “outstanding momentum” in its casino and sports betting divisions as the main reason behind a year-on-year hike in revenue during the six months to June 30.

Revenue amounted to $262 million (€235.1 million) for the first half, up by 19% on the $220 million posted in the corresponding period last year.

B2C revenue jumped 21% year-on-year to $229.5 million, while casino revenue increased 31% to $137.4 million and sport revenue rocketed by 63% to $25 million.

888 also noted that revenue from regulated markets climbed by 29% and now represents 63% of group revenue.

Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 8% year-on-year to $44.1 million, with profit before tax also up by 39% to $27.8 million.

The operator also announced an interim dividend of 3.8 cents per share, more than the 3.5 cents awarded at the end of the same period last year.

Itai Frieberger, chief executive of 888, said: “888 has delivered a very encouraging performance in H1, resulting in a 19% increase in group revenue to a record $262 million.

“This strong outcome was driven by outstanding momentum at 888Casino and 888Sport where we achieved impressive revenue increases of 31% and 63% respectively.

“In line with our strategic focus we have made further excellent progress developing 888 in regulated markets and have grown regulated revenue by 29% against the prior year, reflecting strong performances in the UK, Spain and Italy as well as 888’s recent successful launch in Denmark.

“Trading in Q3 has started well with average daily revenue until August 27 15% above strong previous year comparatives and 22% higher on a like-for-like basis.

“With this strong momentum the board remains confident of delivering against expectations for the full year.”

Confirmation of the results comes after Rank and 888 earlier this month gave up on a joint takeover bid for William Hill.

source : www.igamingbusiness.com

Share This Article:

More Similar Articles


Please enter your comment!
Please enter your name here