{"id":21,"date":"2024-06-11T01:18:48","date_gmt":"2024-06-10T22:18:48","guid":{"rendered":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/11\/888-holdings-share-value-drops-despite-uk-revenue-growth\/"},"modified":"2024-06-12T10:46:23","modified_gmt":"2024-06-12T07:46:23","slug":"888-holdings-share-value-drops-despite-uk-revenue-growth","status":"publish","type":"post","link":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/11\/888-holdings-share-value-drops-despite-uk-revenue-growth\/","title":{"rendered":"888 Holdings Share Value Drops Despite UK Revenue Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/WDWzoF7zS8E\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The online gaming firm, 888 Holdings, experienced a decline in its share value despite announcing revenue expansion in the British market, as earnings plummeted in the initial six months of the year.<\/p>\n<p>The corporation published its interim financial statements, revealing a marginal 2% year-over-year rise in overall group income to $277.3 million, but a substantial 63% reduction in pre-tax profit to $22.2 million. This information caused 888&#8217;s stock value to tumble.<\/p>\n<p>Initially plunging from \u00a31.67 ($2.06) to \u00a31.53 after the financial results were made public, the company&#8217;s share price rebounded slightly to approximately \u00a31.57.<\/p>\n<p>While 888 witnessed a 7% surge in comparable revenue, with B2C revenue climbing 6% to $262.5 million, fueled by a 9% increase in casino revenue to $175.4 million and a 19% leap in sports wagering revenue to $44.5 million, and a 17% rise in bingo revenue (although conventional bingo revenue dipped 3% on a constant currency basis), poker revenue dwindled by 24% to $23.1 million, and B2B revenue contracted by 44% to $14.8 million.<\/p>\n<p>Though UK revenue escalated by 14% to $97.6 million, the transfer of Cashcade Bingo and the purchase of the Costa Bingo brand and AAPN affected 888&#8217;s net income, as did the company&#8217;s \u00a315 million acquisition of BetBright in March.<\/p>\n<p>Adjusted EBITDA contracted by 20% to $41.8 million, and adjusted pre-tax profit diminished by 36% to $27.1 million, while the previously mentioned statutory pre-tax profit decline was even more pronounced.<\/p>\n<p>Despite the obstacle, CEO Itai Pazner maintained a positive outlook: \u201c888 delivered a robust performance during the first half of 2019.\u201d <\/p>\n<p>888s concentrated effort on recreational gamers is yielding significant rewards!  Their captivating new offerings are creating a stir, and the UK market is rebounding impressively.  They&#8217;re even broadening their reach across Europe, establishing a presence in popular locations like Sweden and Portugal.  This company is definitely one to keep an eye on! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The online gaming firm, 888 Holdings, experienced a decline in its share value despite announcing revenue expansion in the British market, as earnings plummeted in the initial six months of the year. The corporation published its interim financial statements, revealing a marginal 2% year-over-year rise in overall group income to $277.3 million, but a substantial [&hellip;]<\/p>\n","protected":false},"author":82,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Holdings Stock Drops Despite UK Revenue Growth - Find Out Why<\/title>\n<meta name=\"description\" content=\"888 Holdings saw its share value plummet despite a revenue increase in the UK market. 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