Top of the Hill, 888 Reports Sweet Q3
And the good news is underlined with an assertion by the online gaming giant that it is now on stream to hit its year-end fiscal targets.
The FTSE250, Gibraltar-based, company expects to complete its buy-up of WHI—the non-US core of the iconic British betting firm—from Caesars Entertainment by the first quarter of next year, subject to shareholder approval.
Although 888 Holdings–better known by its 888.com moniker—took a US$10 million blow (£7.26m/€8.6m) when it was forced to pull out of the recently regulated Dutch online market, at least until it receives new licencing approval; growth was maintained by strong performances in its B2C Gaming division, up 11 per cent to US$194 million in Q3 (£140.97m/€166.84m), year-on-year, and a 21 per cent rise in sportsbook revenue.
“Q3 was a period of outstanding strategic progress for 888,” said Group CEO Itai Pazner.
“We announced the transformational acquisition of William Hill International, successfully launched SI Sportsbook in the US and began operating 888sport under a new licence in Germany — as we continued to execute our plan to build a global online betting and gaming leader.”
Also notably, the group launched more than 150 new casino games during the quarter, while business in Italy, Spain, Romania and the UK, charged by platform upgrades and AI, continued to flourish.
“This performance reflects the continued success of our data-driven investments and execution,” said Pazner. “The combination with William Hill International [gives us] a very exciting platform for long-term growth.”