Last checked at 14 Jan 2021 07:00
14 January 2021
888 Holdings Public Limited Company
("888" or "the Group")
Post-Close Trading Update
888, one of the world's most popular online gaming entertainment and solutions providers, today announces a post-close trading update in respect of its results for the year ended 31 December 2020 (the "Period").
Further to the Group's Trading Update on 2 December 2020, 888 is pleased to announce it continued to deliver a strong performance to the end of the year, with both revenue and active customer numbers in December representing all-time monthly records for the Group. As a result, the Board now expects the Group to report revenue and adjusted EBITDA for the Period moderately ahead of its prior expectations.
This strong trading continues to reflect increased new customer acquisition that started at the end of 2019 and continued throughout 2020, the positive impact of new products launched during the Period as well as an acceleration in the shift from retail to online services witnessed across multiple consumer-facing industries.
Whilst 888 has entered 2021 with good momentum, the Board remains mindful of possible headwinds over the coming months including macro-economic and regulatory uncertainties in certain jurisdictions. Notwithstanding, the Board remains confident that, with 888's outstanding product proposition, advanced technology and diversification across global regulated markets, the Group remains well positioned to deliver further progress.
Sell-side analyst webinar
At 4pm GMT today the Group will host a webinar event for sell-side analysts. The event will discuss 888's latest product innovations including: the Control Centre, the Group's latest safe gambling innovation; Poker8, the Group's new and enhanced poker product; and 888sport's new, proprietary platform that was successfully launched during 2020.
No new material information will be provided at the event.
A replay will be available from the investor relations section of 888's website after the event.
(https://corporate.888.com/investor-relations).
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Enquiries and further information:
888 Holdings Plc | +350 200 49 800 |
Itai Pazner, Chief Executive Officer | |
Yariv Dafna, Chief Financial Officer | |
Hudson Sandler - 888@hudsonsandler.com | +44(0) 207 796 4133 |
Alex Brennan / Bertie Berger / Andy Richards |
Notes to Editors:
888 Holdings plc (and together with its subsidiaries, "888" or the "Group") is one of the world's most popular online gaming entertainment and solutions providers. 888's mission is to supply its customers with innovative and market-leading online gaming products, above all in a safe and secure environment. Safer gambling is a core focus for the Group and, at the beginning of 2020, 888 launched its 'Safer. Better. Together' safer gambling strategy and commitments.
888 has been at the forefront of the online gaming industry since foundation in 1997, providing to players and B2B partners an always innovative and world-class online gaming experience. At the heart of 888's business is its proprietary gaming technology and associated platforms.
During 2019 888 was named Casino Operator of the Year at the prestigious EGR industry awards and, in 2020, the company was proud to be recognised at the 2020 Gaming Intelligence awards as winner in the Casino Operator of the Year category. In 2020, 888 also won two prestigious awards for its poker platform at the 2020 Poker Listings Operator Awards in the Most Improved Software and Best Beginner Software categories.
The Group is structured into two lines of business: B2C, under the 888 brands, and B2B, conducted through Dragonfish, which provides partners a leading platform through which to establish an online gaming presence and monetise their own brands in a safe and responsible manner.
888's consumer facing websites offer more than just online gaming. They are entertainment destinations: places where people can enjoy a truly interactive experience and be part of an online community that shares common interests. 888's strong and trusted brands are all accessible through www.888.com.
Find out more about 888 at http://corporate.888.com/.
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements in this announcement reflect 888's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Financial Conduct Authority, 888 undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.