Investors raise 888 after update

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Investors raise 888 after update
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Online gambling operator 888 Holdings (LON:888) has confirmed that EBITDA for the year ending 31st December will be in line with expectations. In the US, the company launched 888sports in New Jersey in September and acquired the remainder of the All American Poker Network in December.

CEO Itai Frieberger commented: “During the Period 888 has delivered continued progress against its strategic objectives. The Group has continued to focus on driving growth in regulated markets, enhancing compliance, and delivering exciting product innovation.

“888 has maintained its strong momentum in Casino and Sport, particularly in continental European markets. In the UK, we are pleased to update that the initial positive trends in revenue reported at the time of the Group’s half year results have continued.

“888 remains very excited by the significant long-term growth opportunities in the US market and, throughout the year, we have made significant operational progress in the region. The recently announced acquisition of the remaining stake in AAPN places 888 in an even better position to take advantage of the significant growth opportunities in the US and create additional value for our shareholders.

“Underpinned by the strength of the Group’s technology as well as our fantastic team and diversification across products and regulated markets, the Board remains excited by 888’s long-term growth prospects.”

888 Holdings’ share price rose by 7.76% to 183.20p (as of 13:20 GMT).

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