Crackdown on online gambling will hit sales, warns betting group 888
Crackdown on online gambling will hit sales, warns betting group 888, ahead of its £2.1bn takeover of William Hill UK
888 is next month completing its £2.1bn takeover of William Hill’s UK business
A Government crackdown on online gambling will hit sales, a major betting group warned yesterday.
888, which offers gaming and sports betting and is next month completing its £2.1billion takeover of William Hill’s UK business, said revenue in the six months to July will be between £330million and £335million, down from £433million last year.
The warning came ahead of a White Paper on gambling, expected this month, which will update the 2005 Gambling Act to regulate the online market.
Measures are expected to include affordability checks and maximum stakes.
888 said sales will also take an £8million hit following its temporary exit from the Netherlands while it applies for a licence in the newly regulated market.
And, adding to its woes, the firm is struggling with a sector-wide post-lockdown slump after online gaming boomed through the pandemic.
888’s shares have fallen 57.5 per cent in the past year.