One of the leading online gaming entertainment and solutions supplier, 888 Holdings, has just acquired a brand-new license in Malta to go against the threats that are in correlation with Brexit. In the last couple of months, this corporation has shown significant progress when it comes to revenue.
What Is The Problem Then?
Even though everything seemed fine, their income was decreased after their UK business was stricken by increased taxes and stricter regulations.
Not too long ago, they placed a server in Ireland with the goal of indulging their consumers from Europe and to also alleviate negative effects that were caused by Britain’s departure from the European Union.
In the meantime, pre-tax gaining jumped to 108.7 million US dollars (£83.2 million) last year which is an amazing result in comparison to 18. 8 million dollars (£14.4 million) that occurred in 2017.
On the other hand, the profit was down to 540.6 million dollars (£414 million) from 541.8 million dollars (£414.9 million).
Moving In The Right Direction:
Meanwhile, 888 saw drastic changes in response to the Government’s exertion to deal with several gambling issues, such as minors who are using this form of entertainment, various gambling problems, self-imposed advertising watershed and many others.
Chief executive, Itai Pazner, commented:
“The group achieved continued growth across several regulated markets, primarily in continental Europe, underpinned by good momentum in casino and sport.
The positive momentum at the end of 2018 has continued into the first quarter of 2019 with average daily revenue in 2019 to date up 10% compared to the fourth quarter of 2018, reflecting improvements across major KPIs (key performance indicators).
In the UK, we are encouraged by the improving trends we began to witness in the latter stages of 2018 and the board is pleased to report that these have continued during the first quarter of the current financial year.”
Acquisition of BetBright’s Platform:
A few days ago, they obtained BetBright’s sports betting platform for fifteen million pounds.
This business step will further enhance their products as well as technology abilities and will help them improve their strategy for 888Sport.
Furthermore, their office placed in Dublin will also be merged into the Group. They will have a full ownership over their technology and product development across four major betting verticals – casino, sport, poker and bingo.
This dealership will further strengthen their position in the global Sports betting market by allowing them to completely showcase their marketing, analytics capabilities, as well as professionalism and expertise.
Source: “888 Holdings Obtain Malta License To Tackle Brexit” https://europeangaming.eu/portal/latest-news/2019/03/13/40892/888-holdings-obtain-malta-license-to-tackle-brexit/. European Gaming. March 14, 2019.
“888 Acquires BetBright’s Sports Betting Platform” https://corporate.888.com/sites/default/files/888%20acquires%20BetBrights%20sports%20betting%20platform.pdf. Corporate 888. March 14, 2019.
