Tag Archives: 888

888 reports strong momentum in sports betting

888 Holdings has seen like for like revenue increased by 9% to US$244.9m for the first half of the year, helped in a small part by a strong performance in its fledgling sports betting business. Adjusted EBITDA at the firm decreased by 17% to US$40.9m, but the firm has billed this as an impressive result given the introduction of UK …

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Revenues drop but EBITDA up for Bwin.party’s H1

Bwin.party CEO Norbert Teufelberger has not ruled out recommended a takeover offer from GVC Holdings, but wants the firm to work on its bid. Until then, the board is continuing to support 888 Holdings’ original bid. He commented: “We have been working with GVC and their advisors to try and help them resolve certain key aspects of their proposal, something …

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Analysts believe ‘Betty Power’ won’t be the last major merger deal

The markets have responded positively to today’s announcement by Paddy Power and Betfair that they are considering a merger. Betfair shares jumped 18%, while Paddy Power’s have increased by more than 15%. In contrast, the share prices of competitors William Hill and Ladbrokes have dropped on the news. Writing in the FT’s Lombard column, Jonathan Guthrie said that the merger …

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William Hill cites tax increases for £21m drop in profits

William Hill CEO James Henderson has described the past six months as a period of ‘significant regulatory and taxation change for the industry’ as the bookmaker reported a 30% drop in profits after tax to £69.5m. Despite group net revenue marginally growing, even against 2014 World Cup comparatives, operating profit dropped 12% to £155.7m for the first half. Group net …

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888 takes lead in the battle for £898.3m bwin.party

888 Holdings has trumped rival bidder GVC Holdings by agreeing a deal to buy fellow operator bwin.party for £898.3m. The deal was announced to the stock market this morning. It’s a huge achievement for the casino operator, given that before the announcement 888 had a market capitalisation of approximately £570.8m. 888 believes that the deal will provide significantly enhanced scale, …

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Portuguese online gambling bill sees operators exit market

The 28 June introduction of the Online Gambling Bill by Portugal’s Council of Ministers has seen the announcement of market exits’ by 888, Betfair and bet365. All three operators sent market exit communications to players, affiliates and media partners this week in order to inform them of their decision to no longer offer services and to detail account withdrawal procedures. …

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Spain welcomes new operators & licensed slots play

Spiffbet

A major update by the Spanish gambling regulator, La Dirección General de Ordenación del Juego (DGOJ), has seen the awarding of 10 new operator licenses for entry into the Spanish regulated market The DGOJ confirmed that European companies Eurobet, Merkur Interactive, SKS365 and Net Ent were amongst the operators and service providers granted license approval for market entry. The update …

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888poker becomes lead poker sponsor of WSOP 2015

888poker has been confirmed as the lead poker room sponsor of the World Series of Poker 2015 (WSOP 2015). The WSOP 2015 which will run from 27 May to 14 July at the Rio All-Suite Hotel Casino is the world’s largest poker tournament. The 888poker brand will be displayed throughout the tournament venue during the poker series, and will receive …

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Gerard Farrell – Global Reviews – Sports bettors expect ease of use as a bare minimum

In the year February 2014 to February 2015 Global Reviews conducted three Digital Sales Effectiveness* studies into the Sports Betting Industry in the UK and Ireland. This research examines how effective 888, Bet Fred, Bet Victor, Bet365, Betfair, Coral, Ladbrokes, Matchbook, PaddyPower, Sky Bet and William Hill are at converting customers online. Bettors expect more online Prospective bettors are looking …

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William Hill on the prowl with 888 the prey

Online casino operator 888 has seen its share price jump by 18% after it revealed that William Hill has been considering making a move for the company. Shares in 888 rose 26.5 pence to 171.5 pence at the close of trading in London, valuing the company at about £608m. In a regulatory announcement, 888 told the stock market: “The Board …

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