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Prices & Quotes - UK Markets - 888 Holdings (888)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 302.80p
Change Today:
-4.60p
Market Cap:
1,128.71m
Sector:
Travel & Leisure

888 to take $10m hit from Dutch closure

By Sean Farrell

Date: Tuesday 19 Oct 2021

LONDON (ShareCast) - (Sharecast News) - 888 Holdings reported higher third-quarter revenue but said $10m would be knocked off 2022 profit after it was forced to close its Dutch operation.
Revenue rose 7% to $229.9m in the three months to the end of September, 888 said in a trading update. The increase was 3% excluding currency swings.

At the end of the quarter, 888, decided to stop trading in the Netherlands because of rule changes. 888 said it intended to apply for a local licence in the Netherlands and that the closure would reduce 2022 earnings by about $10m. 888 said it aimed to be operational again during the second half of 2022 but that timing was not clear.

Consumer gaming revenue rose 11% to $193.5m led by casino games in the third quarter. That increase more than offset a 15% drop in consumer betting revenue to 26.8m when compared with a condensed sporting calendar a year earlier. The FTSE 250 group said the third quarter was in line with its expectations and that it was confident that annual performance would meet it goals.

Chief Executive Itai Pazner said: "I am pleased with the group's continued positive trading, particularly as we lap very tough comparative periods. This performance reflects the continued success of our data-driven investments and execution against our product-leadership plan that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products."

888 agreed in September to buy William Hill's non-US business, including 1,400 betting shops, from Caesars Entertainment for 2.2bn. It won in an auction against Apollo and CVC Capital Partners.

The company's shares fell 2.2% to 407.04p at 08:28 BST.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

888 Holdings Market Data

Currency UK Pounds
Price 302.80p
Change Today -4.60p
52 Week High 478.00p
52 Week Low 272.50p
Volume 936,268
Shares Issued 372.76m
Market Cap 1,128.71m
Beta 1.06

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

888 Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Sep-21 25-Mar-21
Paid 13-Oct-21 24-May-21
Amount 4.50¢ 10.40¢

Trades for 03-Dec-2021

Time Volume / Share Price
16:35 249,339 @ 302.80p
16:29 106 @ 302.20p
16:29 22 @ 301.60p
16:29 829 @ 301.60p
16:29 41 @ 301.80p

888 Holdings Key Personnel

CEO Itai Pazner
CFO Yariv Dafna