888 Holdings upward momentum continues
News on 19 Dec 2018
News on 19 Dec 2018
In a trading update published Wednesday, 888 Holdings PLC (888) said the second half of the financial year has seen further progress against the Group’s strategic objectives leading the Board to remain confident in achieving full year expectations.
The company reported continued momentum in Sport, Casino and across regulated European markets which was supported by the rollout of Orbit, 888’s new Casino platform. 888 keenly anticipates the upcoming launch of its new Poker 8 platform expected to be rolled-out in the coming weeks.
A strong performance in the first half of 2018 in the UK market has continued into the second half delivering positive trends in revenue, a press statement reads.
In the US, the Group has continued to strengthen its position including launching 888sport in New Jersey in September. This marked the first time that 888 offered sports betting in the United States and paves the way for the Group to launch 888sport in additional viable US states as future regulation allows.
In December 888 announced the acquisition of the remaining 53% interest in the All American Poker Network (“AAPN”), a joint venture established in 2013, for US $28 million. The Board believes this acquisition to be an important strategic milestone for 888 that will facilitate the Group’s future growth strategy in the US.
Itai Frieberger, Chief Executive Officer of 888:
“Underpinned by the strength of the Group’s technology as well as our fantastic team and diversification across products and regulated markets, the Board remains excited by 888’s long-term growth prospects.”
