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888's delight in fantastic growth for 2016

2017-03-21 16:49:56

The company cited continued and ongoing progress within its casino and sports sectors as the main reasons behind this year-on-year financial growth. In 2015, 888 had revenues of $462.1 million. This increased to $520.8 million for the year ended December 31, 2016.

On the Up

888 really made moves with the sportsbook side of its site. The sports revenue alone increased by a whopping 49% in 2016. As you can imagine this is all fantastic news for shareholders! Share prices have now increased from 15.5 cents per share in December 2015, to 19.4 cents per share at present.

Itai Frieberger, chief executive of 888, 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 licences, 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.”