888 profits to top expectations after sales jump

Business News

888 Holdings said it expects annual adjusted core earnings to be significantly ahead of expectations, as more users came on board, sports events returned, and the poker segment performed well.

The company said its average daily revenue so far this year has been 34% higher than last year, adding that it has benefited from a shift towards online services.

Chief Executive Itai Pazner said: “We are pleased with 888’s trading during the year-to-date which has resulted in the board now anticipating that adjusted Ebitda for 2020 will be significantly ahead of its prior expectations. This performance builds on 888’s strong customer acquisition during 2019 and our continued focus during recent years on entertaining a greater number of recreational customers.

“888 is well positioned to continue to benefit from a potential long-term shift towards online services that we have seen accelerate across several consumer industries during the COVID-19 pandemic.”