The London-listed 888 Holdings has issued a trading update, saying that its performance so far this year is in line with board expectations.
The group predicts that its revenues will come in at around GBP 330 million in the six months ending June 30th.
In the first half of 2021, revenue was reported to be GBP 528.4 million.
While 888 experienced good growth in some of the European gambling markets, the fact that some countries introduced tougher gambling laws offset revenue growth.
In addition, 888 was also forced to temporarily exit the Netherlands’ gambling market as the country’s strict online gambling laws were set in motion.
888 Holdings plans to acquire William Hill’s international in a deal that is expected to be completed within a week. The group is planning to raise GBP 1.7 billion of funded debt to finance the purchase.
Speaking about the performance of 888 and William Hill, 888 said in a statement this week: “The performance of both businesses largely reflects a continuation of the trends outlined in the prospectus dated 29 April 2022, with the positive impact of retail reopening and strong performances across a number of regulated countries being offset by the closure of the Netherlands and the impact of additional safer gambling measures within the UK online segments of both businesses.”
