A prominent online gaming corporation, 888 Holdings, declared a revenue surge of 9% for the initial six months of 2017, contrasted with the corresponding timeframe in the preceding year. This expansion was propelled by robust results in their casino and sports wagering segments, which witnessed substantial leaps of 11% and an impressive 45% accordingly. Although their poker sector trailed with a marginal 1% rise, the company’s total revenue attained a remarkable $270.1 million.
This accomplishment is particularly notable given the recent imposition of a record-breaking £780,000 penalty on 888 Holdings by the UK Gambling Commission. This sanction followed a comprehensive inquiry that uncovered significant shortcomings in the company’s management of at-risk gamblers. Notwithstanding this obstacle, 888 Holdings persists as a dominant force within the online gaming sector, showcasing resilience and flexibility in a swiftly transforming marketplace.
Although encountering some recent obstacles, 888 Chief Executive Itai Frieberger maintains a positive outlook. He emphasized the company’s robust results in the initial six months of 2017, noting a 9% increase in revenue when accounting for currency fluctuations. Frieberger credited this achievement to the ongoing expansion of 888’s primary casino product, the impetus of its swiftly growing sports wagering platform, and a steady performance from its poker offerings. He further stated that this favorable trajectory, coupled with the group’s resilient business framework, instills confidence in the board regarding 888’s capacity to generate further expansion and realize its annual targets.
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