A prominent online wagering and gaming enterprise, 888 Holdings, declared a robust 9% revenue surge for the initial six months of 2017, fueled by substantial expansion in its casino and sports wagering segments.
The corporation, managing renowned brands such as 888sport, 888poker, and 888casino, witnessed its revenue ascend to $270.1 million in the half-year concluding June 30th, a rise from $262 million during the corresponding timeframe the previous year.
Although 888’s poker offerings experienced a marginal 1% uptick, both the casino and sports betting divisions thrived, registering revenue growth of 11% and an impressive 45% respectively. This underscores the escalating prevalence of online casino games and sports wagering among patrons.
Notwithstanding this favorable financial showing, 888 Holdings encountered a recent obstacle. The UK Gambling Commission, the governing entity for gambling in Great Britain, levied a record-setting fine of £780,000 on the firm. This sanction followed an extensive inquiry that uncovered notable shortcomings in 888’s management of clients displaying indications of problematic gambling habits.
In spite of current challenges, 888’s chief executive, Itai Frieberger, maintains a hopeful outlook. He emphasized the firm’s ongoing financial and operational expansion in the initial six months of 2017, noting a 9% increase in revenue at a fixed exchange rate.
Frieberger ascribed this favorable outcome to “sustained expansion in 888’s primary casino product, the robust performance of its rapidly developing 888Sport division, and a steady contribution from poker.” He further remarked: “Building on this momentum, and leveraging the group’s established and varied business framework, the board remains assured that 888 is poised to achieve further advancements and fulfill its projections for the entire year.”
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