Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picks888 Holdings Share News (888)

Share Price Information for 888 Holdings (888)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 86.40
Bid: 86.35
Ask: 87.00
Change: -1.75 (-1.99%)
Spread: 0.65 (0.753%)
Open: 86.30
High: 89.65
Low: 85.80
Prev. Close: 88.15
888 Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

888 ends Sports Illustrated deal and considers selling US operations

Wed, 06th Mar 2024 11:55

(Alliance News) - 888 Holdings PLC on Wednesday said that it has launched a strategic review of its business-to-consumer operations in the US and is considering a sale of that business as part of the process.

The Gibraltar-based betting operator, which owns the William Hill and Mr Green brands, said that it is considering all value-adding opportunities, including selling the US business or a controlled exit of US business-to-consumer operations.

888 currently operates in four states, with SI Sportsbook and SI Casino in Michigan, SI Sportsbook in Colorado and Virginia, and 888casino in New Jersey.

It explained that gross profit margin has been lower in the US than in the rest of the group, as a result of the costs of operating in the market, including duties, market access fees, and licence fees. It also noted the impact of "intense competition" from incumbent participants.

As a result of the review, 888 Holdings has ended its partnership with Authentic Brands Group LLC, which had granted 888 exclusive use of the Sports Illustrated magazine brand for online betting and gaming.

888 has agreed to pay a Authentic Brands a fee of USD25 million immediately to end their agreement, as well as an extra USD25 million between 2027 and 2029. Ending the Sports Illustrated deal is expected to save 888 operating costs of between USD6 million and USD7 million per year in 2024 and 2025.

There is no set timetable for when the strategic review will be completed. 888's business-to-business operations in the US remain unaffected by the review.

888 shares were trading 1.0% higher at 85.71 pence each in London on Wednesday morning. The stock is up 17% over the past year.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
13 Jun 2023 09:39

SMALL-CAP WINNERS & LOSERS: 888 jumps after selling Latvian business

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

Read more
13 Jun 2023 09:31

888 shares up as completes EUR28 million sale of Latvian business

(Alliance News) - 888 Holdings PLC shares were up on Tuesday, after it said it has completed the EUR28.3 million sales of its Latvian business.

Read more
13 Jun 2023 08:45

LONDON MARKET OPEN: UK jobs and pay raise expectations of rate hike

(Alliance News) - Stock prices in London opened higher on Tuesday morning after a surprise dip in the UK unemployment rate and pick-up in pay growth helped cement expectations of another interest rate hike by the Bank of England next week.

Read more
13 Jun 2023 07:51

LONDON BRIEFING: Higher call after surprise fall in UK unemployment

(Alliance News) - Stocks in London were set to open higher on Tuesday, after the unemployment rate in the UK unexpectedly declined in the three months to April and pay growth sped up.

Read more
8 Jun 2023 10:00

SMALL-CAP WINNERS & LOSERS: Galliford Try settles contract dispute

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

Read more
7 Jun 2023 16:57

LONDON MARKET CLOSE: Stocks dip after surprise hike by Bank of Canada

(Alliance News) - Stocks in London closed on a cautious note on Wednesday after a surprise rate hike from the Bank of Canada revived fears that interest rates around the world will stay higher for longer.

Read more
7 Jun 2023 12:18

LONDON MARKET MIDDAY: Cautious trade as focus turns to rate decisions

(Alliance News) - Stock prices in London were mostly lower at midday on Wednesday, though large-cap indices eked out a gain, as investors looked ahead to a busy two weeks for central bank rate decisions.

Read more
7 Jun 2023 10:49

888 Holdings gets backing from "blast from gaming past"

(Alliance News) - 888 Holdings PLC, which has come under share price pressure in recent months, received a "positive endorsement" in the form of new backing this week.

Read more
7 Jun 2023 10:18

SMALL-CAP WINNERS & LOSERS: 888 soars on backing from ex-GVC directors

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

Read more
7 Jun 2023 09:37

888 "welcomes" backing from investor group FS Gaming

(Alliance News) - 888 Holdings PLC shares surged on Wednesday after it received backing from a vehicle which includes several former board members of Entain PLC.

Read more
7 Jun 2023 09:10

LONDON MARKET OPEN: Stocks head lower amid global growth fears

(Alliance News) - Stock prices in London opened in the red on Wednesday, as concerns about interest rate hikes and a global economic slowdown damped risk appetite.

Read more
7 Jun 2023 08:05

888 Holdings surges as investor group FS Gaming builds 6.6% stake

(Sharecast News) - William Hill owner 888 Holdings surged on Wednesday after it emerged that investor group FS Gaming Investments has built up a 6.6% stake in the company.

Read more
22 May 2023 10:48

888 Holdings agrees to sell Latvian business for EUR28.3 million

(Alliance News) - 888 Holdings PLC on Monday said that it has agreed to sell its Latvian business to Paf Consulting Abp for up to EUR28.3 million.

Read more
22 May 2023 08:20

888 to sell Latvia business for up to €28.3m

(Sharecast News) - William Hill owner 888 Holdings said on Monday that it has agreed to sell its Latvian business for up to €28.3m (£24.6m) as it looks to focus on core and growth markets.

Read more
18 May 2023 10:24

SMALL-CAP WINNERS & LOSERS: Petrofac JV wins USD1.5 billion contract

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.