888 Holdings up on strong start to year

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888 Holdings up on strong start to year
Master Investor Magazine

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Shares in FTSE 250 gaming company 888 Holding (LON:888) have risen by 4.62% to 138.20p (as of 13:50 BST) after it said that like-for–like revenues in the first four and a half months of the year rose by 6%. Management said that this improvement has been driven by increased marketing spend and the launch of a new casino platform.

CEO Itai Pazmer commented: “888 has enjoyed a solid start to the year with strong momentum in Casino and Sport across a number of the Group’s major regulated markets. Whilst Poker has remained challenging, we were pleased to see an improving revenue trend in Q1 2019 against Q4 2018. In addition, we are very encouraged by a 20% increase in first time depositors across the Group’s B2C business in the Period; this reflects 888’s outstanding marketing capabilities and is a key indicator of our growth prospects.

“As a diversified operator that owns its own technology, the Board continues to believe that 888 has a unique platform to deliver continued growth in the dynamic global online gaming industry“.

 

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