{"id":25,"date":"2024-06-11T08:03:06","date_gmt":"2024-06-11T05:03:06","guid":{"rendered":"https:\/\/ukonlinecasinoslist.icu\/2024\/06\/11\/888-holdings-share-value-dips-despite-revenue-growth-in-h1-2019-report\/"},"modified":"2024-06-12T10:34:25","modified_gmt":"2024-06-12T07:34:25","slug":"888-holdings-share-value-dips-despite-revenue-growth-in-h1-2019-report","status":"publish","type":"post","link":"https:\/\/ukonlinecasinoslist.icu\/2024\/06\/11\/888-holdings-share-value-dips-despite-revenue-growth-in-h1-2019-report\/","title":{"rendered":"888 Holdings Share Value Dips Despite Revenue Growth in H1 2019 Report"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/HZOyX7DkkVk\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The online gaming firm, 888 Holdings, experienced a decline in its share value following the publication of its mid-year financial statement.  Despite an uptick in revenue within the UK market, profitability encountered a significant downturn.<\/p>\n<p>The statement revealed a marginal 2% rise in revenue year-over-year, reaching $277.3 million. However, profit before tax experienced a steep 63% plunge to $22.2 million, negatively impacting 888&#8217;s stock performance.<\/p>\n<p>Immediately after the financial figures were made public, the operator&#8217;s share price tumbled from \u00a31.67 ($2.06) to \u00a31.53. A slight recovery to approximately \u00a31.57 was observed later in the day.<\/p>\n<p>Although 888 witnessed a 7% growth in revenue from comparable avenues, with B2C revenue ascending by 6% to $262.5 million and casino revenue surging by 9% to $175.4 million, profits faced challenges.<\/p>\n<p>Sports wagering revenue also demonstrated a robust 19% increase, reaching $44.5 million. Bingo revenue climbed by 17%, although when adjusted for currency fluctuations, it actually contracted by 3%.<\/p>\n<p>Conversely, poker revenue experienced a 24% decline, settling at $23.1 million. B2B revenue witnessed a substantial 44% drop to $14.8 million.<\/p>\n<p>Several elements influenced 888&#8217;s profitability, including the integration of Cashcade Bingo and the acquisitions of both the Costa Bingo brand and AAPN.  The operator&#8217;s acquisition of BetBright for \u00a315 million in March also impacted profits negatively, despite a 14% surge in UK revenue to $97.6 million.<\/p>\n<p>Adjusted EBITDA contracted by 20% to $41.8 million, and adjusted profit before tax receded by 36% to $27.1 million. The previously mentioned pre-tax profit decrease was even more pronounced.<\/p>\n<p>CEO Itai Pazner maintained a positive outlook, remarking: &#8220;888 achieved a solid operational performance throughout the initial six months of 2019.&#8221; <\/p>\n<p>The company&#8217;s United Kingdom branch is recovering and branching out into fresh continental territories, such as Sweden and Portugal.  This triumph is fueled by innovative offerings and a keen emphasis on the everyday consumer. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The online gaming firm, 888 Holdings, experienced a decline in its share value following the publication of its mid-year financial statement. Despite an uptick in revenue within the UK market, profitability encountered a significant downturn. The statement revealed a marginal 2% rise in revenue year-over-year, reaching $277.3 million. However, profit before tax experienced a steep [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Holdings Stock Dips Despite UK Revenue Growth - See Why<\/title>\n<meta name=\"description\" content=\"888 Holdings saw a share price drop despite a 2% revenue increase. 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