888 Holdings plc Pre-Close Trading Update (3007Z)

TIDM888

RNS Number : 3007Z

888 Holdings plc

14 December 2017

14 December 2017

888 Holdings Public Limited Company

("888" or "the Group")

Pre-Close Trading Update

888, one of the world's most popular online gaming entertainment and solutions providers, today reports on trading prior to entering the close period in respect of its Full Year results for the year ending 31 December 2017 (the "Period").

Further to the announcement of 888's Half Yearly Report on 5(th) September 2017, the Board anticipates that adjusted EBITDA for the Period will be in line with market expectations. This has been achieved despite the increased regulatory focus, primarily in the UK, and the strategic decision to exit from five markets in the first half of the year. The Group's business has again been driven by further progress in Casino, strong momentum with 888Sport, increased activity on mobile devices and continued expansion in regulated Continental European markets, most notably Italy and Spain.

Itai Frieberger, Chief Executive Officer of 888, said:

"888 has continued to develop its position in European regulated geographies, further diversified the business and maintained a firm focus on enhancing operational efficiencies.

A major focus in 2017 has been on ensuring that 888 is leading the way in terms of compliance and responsibility. This is an ongoing process of continuous improvement and I am confident that 888 is well positioned as the regulatory focus on the industry continues to become tighter, particularly in the UK.

888 is an agile business with an entrepreneurial culture and team and we have successfully adapted to opportunities and challenges during 2017. Our progress has again been underpinned by the strength of 888's proprietary technology as well as the Group's core expertise in CRM, marketing and business analytics. With these qualities, 888 remains well positioned for future growth."

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Contacts and enquiries:

 
 888 
 Itai Frieberger, Chief Executive 
  Officer                           [phone] 
 Aviad Kobrine, Chief Financial 
  Officer 
 
                                    +44(0) 207 
 Hudson Sandler                      796 4133 
 Alex Brennan                       [e-mail] 
  Hattie O'Reilly 
 Bertie Berger 
 

Notes to Editors:

888 Holdings Public Limited Company (888) 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.

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.

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.

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 Listing 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2017 02:01 ET (07:01 GMT)