888 Holdings Reports Strong Revenue Growth in 2017 Driven by B2C and Sports Betting

A prominent gaming and wagering corporation, 888 Holdings, announced a robust 4% rise in overall income for the 2017 financial year. This expansion was largely fueled by a strong showing in their business-to-consumer operations, which witnessed a 6% revenue surge compared to the preceding year.

Their sports wagering platform achieved notable triumph, registering a 45% revenue leap. Casino income also displayed positive development, expanding by 4% in 2017.

Although the firm encountered certain obstacles due to extraordinary events, such as a value-added tax matter and a regulatory penalty, their modified earnings before interest, taxes, depreciation, and amortization (EBITDA) still climbed by a healthy 12%.

Chief Executive Officer Itai Frieberger conveyed confidence regarding the outcomes, emphasizing the unprecedented income of $541.8 million and underscoring the company’s robust performance notwithstanding the difficulties.

The expansion of the ‘888 collective’ is progressing rapidly, driven by steady progress in their casinos, wagering on athletic events, and other lawful sectors.

Despite strategically withdrawing from certain areas this year, 888 experienced a remarkably successful period. This demonstrates their agility and adaptability, attributed to their advanced technological capabilities and an exceptional workforce.

Their endeavors extended beyond casinos and sports wagering. In January, 888 Holdings inaugurated their inaugural poker platform, 888poker.it, in Italy. Furthermore, Spain is emerging as a lucrative market for the company. Their operations in Spain now constitute a significant 12% of their overall earnings, primarily due to the popularity of their casino and sports betting brands.

A prominent figure within the organization, Frieberger, highlighted their relentless progress in sports betting, with revenue surging by an impressive 45%. He stressed that their performance this year aligns perfectly with their objectives. Their average daily earnings have increased by 6%, or even 8% if excluding the markets they exited.

He concluded by emphasizing 888’s resilience, diverse portfolio, and proprietary scalable technology. With numerous promising growth prospects on the horizon, the board expresses immense optimism about the future.