888 Holdings CFO to step down; Revenues down 3%

Finance News

888 Holdings said its trading during the fourth quarter of 2022 was in-line with Board expectations. Total revenue was 458 million pounds, down 3% from last year. 

Pro forma fiscal 2022 revenue was 1.85 billion pounds, in-line with guidance, and down 3% from prior year. The Group expects adjusted EBITDA to be in-line with the guidance range of 305-315 million pounds. 

The Group’s outlook for 2023 is unchanged, with revenues expected to be lower by a low single digit percentage, and an adjusted EBITDA margin of at least 20%. 

The Group noted that there is no change in the 2025 targets of at least 2 billion pounds of revenue, an adjusted EBITDA margin of at least 23% and more than 35 pence adjusted EPS.

888 also announced that Yariv Dafna, Chief Financial Officer and Executive Director, will step down from his role on 31 March 2023. The Board has commenced a search to identify his successor.