888 Holdings Celebrates Record-Breaking Year with Revenue Surge

In 2017, 888 Holdings experienced a positive fiscal period, achieving a 4% increase in total revenue. This resulted in earnings of $541.8 million, a notable rise from the previous year’s $520.8 million.

A significant contributor to this expansion was their business-to-consumer (B2C) sector, encompassing online gaming platforms. This segment witnessed a 6% surge in revenue. Furthermore, their sports wagering division flourished, exhibiting a remarkable 45% growth.

Despite this success, certain challenges arose. Regulatory penalties and tax obligations amounted to approximately $50.8 million. Nevertheless, even after accounting for these expenditures, their net income (excluding taxes and interest) demonstrated a robust 12% increase.

Itai Frieberger, the Chief Executive Officer of 888, expressed satisfaction with the company’s performance, characterizing it as another year of record-breaking achievements.

The 888 collective is flourishing, fueled by consistent expansion in wagering, athletics, and other controlled sectors. Despite withdrawing from certain areas this year, they continue to excel. This demonstrates 888’s agility and responsiveness, a testament to their cutting-edge technology and skilled personnel.

Just this past January, 888 Holdings debuted their inaugural poker platform in Italy, 888poker.it, augmenting their already successful casino and sports wagering offerings. Speaking of triumphs, their Spanish operations generated a substantial portion of their earnings – exceeding 12% – primarily due to the growth of their casino and sports brands.

Frieberger, visibly pleased with the momentum, remarked, “We’re dominating in athletics; revenue surged by 45%. Since the year commenced, our agreements are perfectly aligned with projections, and our average daily revenue has climbed by 6%. Excluding the markets we exited, it’s actually up by 8%.” He concluded confidently, stating, “888 is adaptable and multifaceted, possessing our own proprietary technology capable of scaling. We have numerous exciting growth prospects before us, and the board is highly optimistic about our accomplishments in the coming year.”