888 Holdings Navigates Growth and Challenges in the Gaming Market

The gaming behemoth, 888 Holdings, recently published its most recent trading statement, encompassing the fiscal year concluding in February 2022.

The corporation announced robust earnings of £690 million (equivalent to $8.4 billion!), accompanied by an adjusted EBITDA of £109 million. This expansion was driven by the resumption of physical stores and a solid performance across numerous regulated territories.

Nevertheless, 888 also recognized challenges stemming from the closure of the Netherlands market and the repercussions of responsible gaming initiatives in the UK.

Looking forward, 888 projects revenue ranging from £330 million to £335 million for the half-year period ending in June 2022. This projection aligns with market anticipations, with growth in certain European regions counterbalanced by the effects of supplementary responsible gaming regulations and the temporary withdrawal from the Dutch market.

In a separate communication, 888 also disclosed its aim to secure £1 billion through 888 Acquisitions Limited and 888 Acquisitions LLC. This action implies the company is preparing for prospective acquisitions and further growth within the worldwide gaming sector.

The firm is burdened with a massive amount of debt – approximately $20.2 billion in senior secured borrowings. This comprises a substantial term loan in USD maturing in 2028, in addition to two euro-denominated bonds: one carrying a fixed interest rate due in 2027, and another with a variable rate that reaches maturity in 2028.