Gibraltar-based gambling company 888 Holdings, which is among the most popular and well-established online gaming solutions and entertainment providers on a global scale, reported its trading expectations. The announcement comes right before the company enters the close period in respect of its annual results for the fiscal year that is to end on December 31st, 2016.
The Chief Executive Officer of 888 Holdings Itai Frieberger commented on the company’s report, explaining that the online gambling company had continued generating strong progress in the light of its growth strategy. Mr. Frieberger explained that became possible thanks to the fact that 888 Holdings had managed to develop its offerings in global regulated markets, making investments in its platform and trying to develop further growth in the key business-to-consumer business. The company’s boss explained that the latter had been led by the company’s Casino and Sport operations.
According to Mr. Fieberger, the stable growth and overall performance of 888 Holdings in the current fiscal year continued to be backed by the main expertise of the company in CRM, as well as in business and marketing analytics. Of course, the hard work and efforts of 888 Holdings’ devoted team. In the CEO’s opinion, these were the main factors that had helped the company to keep its positions in the market and to be prepared for continued future growth.
In the latest trading update published, 888 Holdings announced that the company has continued to perform well after it published its 2016 H1 results on August 31th, 2016. The online gaming solutions provider explained that its Board of Directors believes that the adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the period will be matching the previously published annual projection.
The trading update comes after the Gibraltar-based operator announced there was a 19% year-on-year increase over the first half of the year, as well as a 8% rise in its EBITDA. Then, the gaming brand revealed that its casino and sport divisions had been recognised as the major drivers for the company’s positive performance over the second half of the fiscal year.
Currently, the operations of the company are structured in two business lines – the business-to-consumer operations run under the 888 brands and the business-to-business operations run under the Dragonfish brand.
- Author
Olivia Cole
