888 Holdings, a prominent online gaming firm, experienced a robust revenue surge of 9% during the initial six months of 2017. This upswing was driven by impressive results in their casino and sports wagering segments, which witnessed expansions of 11% and a substantial 45% accordingly. Although their poker section displayed more moderate progress, this was counterbalanced by the generally favorable trajectory. The enterprise did encounter a minor decline in its business-to-business area, but this was insignificant relative to the advancements achieved in other domains. Profitability also received a lift, with metrics such as adjusted EBITDA and pre-tax profit exhibiting positive movement. Nevertheless, it’s important to acknowledge that the company did declare a pre-tax deficit for the first half of 2017 owing to a considerable one-time expense. This expense stemmed from a record penalty levied by the UK Gambling Commission for shortcomings in their management of at-risk gamblers.
Notwithstanding recent obstacles, 888’s chief executive, Itai Frieberger, maintains a hopeful outlook. He emphasized the firm’s ongoing revenue expansion and operational enhancements in the initial six months of 2017, citing a 9% revenue surge at constant currency rates.
This favorable outcome, he elaborated, was primarily propelled by the steady growth of 888’s principal casino products, the remarkable performance of their swiftly growing 888Sport platform, and the consistent expansion of their poker offerings.
With this impetus, and supported by the robustness of the group’s well-founded business framework, the board remains assured that 888 is strategically situated for sustained prosperity and attaining its objectives for the current year.
