888 Holdings See Growth Opportunities After ‘Fantastic’ Year

lewis rutledge
Written by Lewis Rutledge
Published on Friday 24th March 2017, 9:14 am
Posted in: Casino Business

Casino Business

888 Holdings chief executive Itai Frieberger is looking forward to another ‘exciting year of progress’ after profits almost doubled in 2016 following a boost in sports betting and casino revenues. The company expanded its operations in the key UK, Spanish and Italian markets last year and was rewarded with a jump in annual pre-tax profit of 82%, with the final figure standing at $59.2 million (£47.8 million).

The casino business reported a sales rise of 21% to $279.3 million, while the sports betting arm of the company went up 49% to $51.9 million. Frieberger said: “2016 was another fantastic year for 888 during which we continued to deliver very strong organic revenue and profit growth. Current trading since the start of the year remains healthy with average daily revenue more than 11% above the previous year at constant currency."

888 Holdings’ performance in regulated markets was another factor behind the financial growth, according to Frieberger, and he believes the company will continue to go from strength to strength. “The board continues to see a number of significant growth opportunities for 888 both in new and existing markets and we look forward to another exciting year of progress.”

888 Holdings has been building steadily since it was launched in 1997 and offers a number of different websites across different gaming sectors, including poker, casino and sports betting. Check out the 888 Casino Review to find out more about the company, the different games available and the promotions that new players can find.

Share this news story:

Related News Articles

Casino Business

NetEnt Releases First Interim Report of 2017

NetEnt, the Swedish gaming firm that has given the world a multitude of popular slots and casino titles, including Mega Fortune, Guns N’ Roses and Wild Wild West, has just published its first interim report of 2017.

Friday 21st April 2017, 10:08 am
Casino Business

IGT Sells DoubleDown Social Casino to South Korean Operator

Gaming solutions provider International Game Technology (IGT) has announced that it has signed a deal to sell its DoubleDown social casino property to DoubleU Games, which is based in Seoul, South Korea.

Wednesday 19th April 2017, 11:20 am
Casino Business

Kindred Group Reaches Deal For 32Red Acquisition

Bosses at 32Red and Kindred Group have expressed their excitement at the prospect of working together, after reaching agreement on an acquisition deal worth £175.6 million.

Thursday 23rd February 2017, 11:06 am

Gamble.co.uk Facebook

You first need to login to Facebook to view this page because it contains age restricted content.

Go to Facebook and Login