888 Financials Up Slightly in First Quarter

This week 888 Holdings revealed its first quarter financial results, noting that revenues were up slightly to £431 million.

Total revenues for the period were higher than expected, as the company predicted between £420-430 million.

Key financial indicators for the quarter were:

• UK and Irish online revenue down 1% from last year
• Retail revenue in those markets grew 4%, but sportsbetting revenues were reduced
• International online revenues were up 6% than the fourth quarter of last year
• International retail revenues dropped 7% during the quarter

888 also revealed that they're currently on-pace to see growth for the full-year hit expectations, coming between 5% and 9%.

Regarding the performance, 888 CEO Per Widerström said: "I am pleased to report that Q1 2024 revenue was slightly ahead of our guidance. Strong player volumes converted into improved revenue run rates.

"Having lapped various regulatory and compliance changes during the quarter, and with increased marketing investment supported by an exciting product pipeline, we remain confident in a return to growth from Q2 2024.

"I am pleased to report a strong quarter of progress against these plans. We are moving decisively and at pace to position our company for long-term success.

"I look forward to providing further updates about our progress in the coming months."

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