Announcing its half yearly results for the six months ended June 30, 888 Holdings reported an increase in “like for like” revenue – which allows for currency fluctuations and excluding recent EU VAT changes – of nine per cent, to $244.9m.

888 Holdings

B2C like-for-like revenue increased by 11 per cent year on year, to $213.6m, but the baseline reported B2C revenue fell by one per cent to $191.1m. B2B revenues were down, with like-for-like revenue falling three per cent to $31.3m and reported revenue down 10 per cent to $28.9m·   

Adjusted EBITDA decreased by 17 per cent to $40.9m from $49.0m, having taken a hit of $19.5m due to the introduction of point-of-consumption taxation in the UK and changes in EU VAT during the period.

Brian Mattingley, executive chairman, said in a statement: “Operational progress has continued with strong increases in active players and first-time depositors despite the external headwinds of a new point-of-consumption tax in the UK, VAT in certain European markets and adverse currency movements.

“On a like-for-like basis revenue was up impressively by nine per cent year on year driven primarily by sustained strong growth in casino and exceptional momentum in sport, which recorded a revenue increase of 81 per cent.”

He added that the board remains confident of achieving its full-year expectations.