Disappointing quarter two results for 888 Holdings

Disappointing numbers from a major industry player

Despite signing some impressive deals with major companies like Harrah's, and a stream of contracts from b2b subsidiary Dragonfish, the Gibraltar-based internet gambling group 888 Holdings plc has admitted that its latest Q2 results are "disappointing".

The group saw an 11 percent decline in share price this week - the most in a year of trading on the London exchange - and characterised its second quarter trading as "disappointing in casino, poker and bingo." The shares have fallen 23 percent thus far in 2010, giving the company a market value of GBP 298.3 million ($452.7 million).

Chief executive Gigi Levy outlined in a statement to business news service Bloomberg what measures would be taken to address the performance problem, saying that the company will consider chopping expenses that could include a payroll reduction of 20 percent, and the top ten managers asked to take ten percent pay reductions in the interests of the future of the company.

Industry analysts opined that 888 is feeling the competitive pressure of companies like Party Gaming and Playtech, which they said have been exhibiting stronger online casino revenue growth, indicating that such a weak start to Q2 may suggest that "competitive pressures" are a factor.

However, Levy noted that the typical seasonal slump has been “slightly more” than last year, and postulated that this could be due to weak economies in countries such as Greece and Spain. He revealed that average daily sales were 13 percent below the first quarter 2010 in the first 25 days of the second.

Bloomberg reports that 888’s first-quarter operating income rose 21 percent as it added new casino and poker customers. Operating income rose to $69 million, from $57 million in the year-earlier period.

Levy made the intriguing disclosure that by July this year his company expects to have made two more acquisitions, a consumer gambling company, and a business with both consumers and businesses as customers.

Live activity feed

  • Index
    "Requested your cashback but please note there will be no results until tomorrow when the rep come back from the Berlin conference."
  • Tumblr nsdzsdacgp1s7vusdo1 250
    "Week ending October 23, 2016 Wunderino Casino: register to receive fs on Starburst, Aloha: Cluster Pays! or Lights slot - valid for Germany, Switzerland and Austria until November 30th, 2016 Intercasino: check e-mails for fs on Jack and the Beanstalk slot Pokies.com: free chip for new sign-ups who register from our LINK ; restricted countries are Poland, Czech Republic, Russia, Slovakia, France, US Juicy Stakes: free bets on table games in the Juicy Stakesclient until October 25th, 2016 Betfair: check accounts for fs Staybet: check accounts/e-mails for fs on Grim Muerto and/or Super Flip slot NextCasino: weekly fs for depositors on selected slots WildSlots: sign-up and receive fs on Starburst slot - for Sweden, Finland, Norway, United Kingdom, Australia and New Zealand Shadow Bet: sign-up to receive fs on Starburst, Lights, Pyramid: Quest for Immortality or Attraction slot; restricted for US and its territories, France, Estonia, Belgium, Spain, Italy, Ireland, South Africa, Germany, Denmark, Turkey, Hong Kong, Afghanistan, Ethiopia, Iran, Iraq, Jordan, Kuwait, Pakistan, Syria, Nigeria, Singapore, Romania, Bulgaria, Portugal, Philippines, Israel, India, Yemen and Hungary BGO: check accounts for fs on Wild Wishes slot Betsafe: check e-mails/sms for fs on Starburst Paddy Power: check e-mails for free bonus Casino Heroes: check accounts/e-mails for daily fs on selected slots Rizk: check accounts for fs on Guns N Roses mobile Multilotto: check accounts for fs Dunder: check accounts/sms for fs on Crazy Cows and/or Jack and the Beanstalk http://www.casinosahara.com/#/ : register to receive fs on Neon Staxx slot- valid for Sweden, Finland, Germany, Canada, Netherlands, Norway, Austria, Denmark and th UK https://www.estorilsolcasinos.pt/en/ : register to receive welcome free bonus https://888azino.com: register to get an access to a wheel with randomly selected bonuses; restricted for Italy, France, Spain, the USA, Turkey, Ukraine and Great Britain Good luck ♥♥♥      "
  • Index
    "Requested your cashbacks and results later. rferry5 wrote: blue i have deposited 332 dollars since last month received a deposit bonus chip of 20 and cashed out at 175 how come i am not eligable for club world cashback why would i keep depositng then to  reach a 200 dollars in losses after my my check cleared ideposited and loss more then 200 if cliub world is goiing to keep screwing withme like this i am shutting my almost 11 year account down i am so sick of club world and there lousey fudging lack of free chips and spins and cashback just sick of it thanks rose They seem to have done this from the beginning of this cashback offer - deducting winnings from losses.  I guess it must be correct as it does state "losses" in the first post.  "
  • Pol
    "5 freespins for depositors on Grim Muerto info email"
  • Pol
    "He was the link with 50 free spins apparently administrator has deletedSubject to remove apparently very sorry"
  • Pol
    "The casino pays no problems with no deposit bonusPreviously, they had promotion €25 and the payment came with no problem"
Swipe left or right to see more

lcb activities in the last 24 hours

  • 43
    new members
  • 600
    members online
  • 18509
    guests online
  • 96
    new posts
  • 4623
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results