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.

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