888 Holdings experienced a revenue surge of 9% in the initial six months of 2017, fueled by substantial expansion in its casino and sports wagering products. This online gaming provider, which possesses a portfolio of brands such as 888poker, 888sport, and 888casino, declared earnings of $270.1 million for the half-year concluding June 30th, a rise from $262 million during the corresponding period in the previous year.
Although poker witnessed a marginal 1% increase, the casino and sports betting sectors were the standout performers, registering year-on-year growth of 11% and a significant 45% respectively. This underscores the growing trend of casino games and sports wagering evolving into increasingly favored modes of digital entertainment.
The firm’s business-to-business operations did encounter a minor revenue decline, but this was counterbalanced by the robust performance of its consumer-oriented activities.
Despite confronting a record penalty from the UK Gambling Commission due to deficiencies in its management of at-risk gamblers, 888 Holdings maintains a positive outlook on its future trajectory. The company is dedicated to enhancing its responsible gaming protocols and expresses confidence in its ability to sustain business growth in a responsible manner.
Notwithstanding recent obstacles, Itai Frieberger, the chief executive of 888, maintains a hopeful outlook. He emphasized the firm’s sustained financial and operational expansion in the initial six months of 2017, noting a 9% increase in revenue when adjusted for currency fluctuations. Frieberger ascribed this favorable outcome to the ongoing growth of 888’s primary casino operations, the robust performance of its 888Sport segment, and a respectable contribution from poker. This positive trend, coupled with the stability of the group’s established business framework, instills confidence in the board regarding 888’s capacity to generate further expansion and attain its objectives for the entire year.
