British online gambling firm 888 forecasts lower half-year revenue
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.