888 Holdings Posts 2016 Financial Results

888 HoldingsInternet betting company 888 Holdings plc has announced their full year 2016 financial results, noting that the company experienced large growth for the period.

Key financial indicators for the full year ending December 31st, 2016 were:

Revenue in the 12 months to December 31, 2016, amounted to a record $520.8 million (€482.5 million), up 13% on the $462.1 million posted in 2015.

B2C revenue climbed 15% year-on-year to $460.2 million, while casino revenue increased 21% to $279.3 million and sports revenue hiked 49% to $51.9 million.

Adjusted earnings before interest, tax, depreciation and amortization was up by 12% to $90.2 million, with a stable margin of 17.3%.

Note
The company has recommended a dividend of 5.1 cents per share, alongside a 10.5 cent per share one-off dividend.

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Speaking about the results 888’s CEO Itai Frieberger said, “2016 was another fantastic year for 888 during which we continued to deliver very strong organic revenue and profit growth.”

“888’s further expansion in the UK, Spain and Italy is a strong demonstration of the group’s ability to drive excellent growth and build leading market positions across regulated markets as the industry continues to head in this direction.”

“888 is a fast-growing operator with the majority of its revenue now generated from regulated markets. The group is truly diversified with successful operations under 10 licenses, four established B2C product verticals and an outstanding B2B offer.”

“The board continues to see a number of significant growth opportunities for 888 both in new and existing markets and we look forward to another exciting year of progress.”

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