Last checked at 13 Jun 2023 07:00
13 June 2023
888 Holdings Plc
("888" or "the Group")
Completion of Sale of Latvia Business
888 (LSE: 888), one of the world's leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, is pleased to announce that further to its announcement on 22 May 2023, the Group has completed the sale of its Latvian business to Paf Consulting Abp.
Lord Mendelsohn, Executive Chair of 888, commented:
"The sale of the Latvian business marks another positive step in the execution of our integration programme. This sale generates cash proceeds from a non-core market to support our deleveraging plans, as well as enabling reinvestment into our core and growth markets."
Enquiries and further information:
888 Holdings Plc | +44(0) 800 029 3050 |
Lord Mendelsohn, Executive Chair Yariv Dafna, Chief Financial Officer Vaughan Lewis, Chief Strategy Officer | |
Investor Relations James Finney, Director of IR
Media |
ir@888holdings.com
888@hudsonsandler.com |
Hudson Sandler Alex Brennan / Charlotte Cobb / Andy Richards | +44(0) 207 796 4133 |
About 888 Holdings Plc:
888 Holdings plc (and together with its subsidiaries, "888" or the "Group") is one of the world's leading betting and gaming companies. The Group owns and operates internationally renowned brands including William Hill, 888, and Mr Green. In addition, the Group operates the SI Sportsbook and SI Casino brands in the US in partnership with Authentic Brands Group.
Incorporated in Gibraltar, and headquartered and listed in London, the Group operates from offices around the world and employs over 11,000 people globally.
The Group's mission is to lead the gambling world in creating the best betting and gaming experiences, bringing unrivalled moments of excitement to people's day-to-day lives. It achieves this by developing state-of-the-art technology and content-rich products that provide fun, fair, and safe betting and gaming entertainment to customers worldwide.
Find out more at:
http://corporate.888.com/
About Paf:
Paf is a Nordic gaming company founded on Åland in 1966 to generate funds for the benefit of society. The founding associations were The Red Cross, Save The Children, the public health service and a children's welfare foundation.
Paf is an award-winning industry leader in responsible gaming.
Paf (Ålands Penningautomatförening) is licensed and controlled by the Government of Åland and holds online gambling licenses in Sweden, Estonia, Latvia and Spain, as well as operating physical gaming operations on more than 30 cruise ships in the Baltic and the North Sea.
Paf has 330 employees representing 30 nationalities.
Find out more at:
https://aboutpaf.com/
Important Notices
This announcement may contain certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of 888. These statements, which contain the words "anticipate", "believe", "intend", "estimate", "expect", "may", "will", "seek", "continue", "aim", "target", "projected", "plan", "goal", "achieve", words of similar meaning or other forward looking statements, reflect 888's beliefs and expectations and are based on numerous assumptions regarding 888's present and future business strategies and the environment 888 will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of 888 to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond 888's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as 888's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which 888 operates or in economic or technological trends or conditions. Past performance of 888 cannot be relied on as a guide to future performance. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The list above is not exhaustive and there are other factors that may cause 888's actual results to differ materially from the forward-looking statements contained in this announcement. Forward-looking statements speak only as of their date and 888, its respective parent and subsidiary undertakings, the subsidiary undertakings of such parent undertakings, and any of such person's respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of 888 for the current or future financial years would necessarily match or exceed the historical published for 888.