LONDON Aug 29 British online gaming company 888
Holdings said its first-half earnings nearly doubled,
helped by the strong growth of its casino and poker products,
leading the firm to reinstate its interim dividend.
The company, which operates 888 casino, poker, sport and
bingo brands, on Wednesday said its earnings before interest,
taxes, depreciation, and amortisation (EBITDA) rose 81 percent
to $36 million in the six months to the end of June. Revenue
rose 21 percent to $186.4 million.
888, which reinstated the interim dividend at 2.5 cents per
share, said it planned to invest in several newly regulated
markets across Europe and the United States during the remainder
"The second half of the year will see increased investment
in Spain, where we will attempt to build on our market share,
and also in the United States, where we are preparing for
regulatory changes," said chief executive Brian Mattingley.
"We will also continue to invest in our technological
platform, the cornerstone of our offer, and make improvements to
our mobile channel."
Earlier this year Spain awarded online gaming licences to
several gaming companies including 888, which removed regulatory
uncertainty hanging over operators.
Shares in 888, which have risen 80 percent in 2012, closed
at 82.5 pence on Tuesday, valuing the business at around 270
million pounds ($427.40 million).