888 Holdings See Profits Double This Year
The UK based online gambling operator, 888 Holdings, has announced that earnings doubled in the first half of this year.
The massive increase in earnings was the result of positive growth in casino and poker. As a result 888 Holdings reinstated its interim dividend obviously to the satisfaction of investors. The divided was reinstated at 2.5c per share and shares closed at 82.5p having risen 80% so far this year.
In the first half of this year 888 Holdings earnings increased by 81% to $36 million, furthermore revenue increased by 21% to $186.4 million.
According the first half earnings report, Brian Mattingley, the Chief Executive Officer of 888 Holdings, said that they hope to invest in a number of the newly regulated markets across Europe, specifically in Spain and in the U.S.
One of the main reasons for 888 Holdings success this year is its poker arm. Online poker profits rose 72% up to $41.3 million which makes 888 Poker the second biggest online poker company in Spain. The casino arm also did well, profits rose by 21% to $83.1 million, however, both bingo and 888’s B2B fell by 2%.
Mattingly said that they now plan to invest in their technological platform and make improvements to their mobile channel.