888 Holdings

888 Holdings Likely to Reach Full-Year Target

20 Dec, 2016 - 04:35 by johntang

888 Holdings Plc. – the company behind several high-profile online gambling destinations - has had an exceptionally successful year and credits 888 Casino and its sports division as being two integral driving forces behind the group’s positive performance in the second half of 2016.

888 revealed in a pre-closing trading update that adjusted EBITDA (earnings before interest, tax, depreciation and amortization) will meet the expectations set for the year. This update was shared after the company said that it experienced a 19% year-on-year increase in revenue for the first half of the year, with EBITDA also increasing by 8%.     

The CEO of 888, Itai Frieberger, said that the company has continued to bolster its progress in regard to their growth strategy by investing in their proprietary platform, developing the brand’s offering across regulated markets, and driving further growth in their core B2C business, led by sport and casino.

Frieberger added that “The strength of the group's performance during 2016 continues to be underpinned by 888’s core expertise in CRM, marketing and business analytics which is further supported by the effort and passion of our highly skilled team.”

The CEO stated that these qualities show that 888 Holdings remains in a strong position to continue its growth in the future.