British online gambling firm 888 forecasts lower half-year revenue

Reuters
 
British online gambling firm 888 forecasts lower half-year revenue
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June 23 (Reuters) - British online gambling firm 888 (888.L) on Thursday forecast its half-year revenue to drop, weighed down by the impact of additional safer gambling measures in some markets and the temporary exit from the Netherlands.

Separately, 888 proposed a senior secured offering worth 1.02 billion pounds ($1.25 billion) and said it would use the proceeds to cut debt and finance the acquisition of William Hill.

The company, which in April had agreed to buy William Hill's international assets from U.S.-based owner Caesars Entertainment (CZR.O), said it expected capex for the 2022 fiscal to be slightly higher than the year-ago period for both the group and William Hill.

The London-listed firm expects revenue to come in at 330 million pounds-335 million pounds in the six months ended June 30, in line with the board's expectations. It had reported a half-year revenue of $528.4 million the year earlier.

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888 forecasts revenue drop ahead of William Hill acquisition Friday 24 June 2022 - 8:03 am 888 Holdings expects to announce a dip in revenues for the first half of the year due to stricter regulations in the UK and its temporary withdrawal from th...

888 forecasts revenue drop ahead of William Hill acquisition
Friday 24 June 2022 - 8:03 am


888 Holdings expects to announce a dip in revenues for the first half of the year due to stricter regulations in the UK and its temporary withdrawal from th...