The prominent gaming and wagering corporation, 888 Holdings, declared a revenue surge of 4% for the fiscal year 2017. This expansion was driven by robust results in their customer-facing operations, notably in sports wagering which experienced a substantial 45% leap. Although they encountered certain expenditures associated with regulatory issues, their overall financial soundness persisted. Chief Executive Itai Frieberger conveyed confidence in the company’s trajectory, emphasizing their unprecedented revenue and modified EBITDA advancement.
The 888 conglomerate experienced remarkable expansion due to a robust performance in the iGaming, wagering, and licensed sectors. Although implementing strategic withdrawals from specific regions, 888 showcased its flexibility and nimbleness, powered by its advanced technological infrastructure and skilled workforce.
This was particularly noticeable in the Italian market, where they introduced their inaugural poker platform, 888poker.it, complementing their existing casino and sportsbook offerings. Spain also became a significant market, with revenue distribution surpassing 12%, propelled by strong results in both casino and sports wagering.
Their sports betting division maintains its upward trend, registering a 45% year-on-year surge in revenue. In general, the year-to-date performance aligns with projections, exhibiting a 6% rise in average daily revenue, or 8% when factoring in the effects of departing certain markets.
Possessing a resilient and varied business portfolio, 888 is well-situated for future expansion. Their adaptable, proprietary technology provides them with a competitive advantage, and the executive leadership remains optimistic about the upcoming year.
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