June 26, 2020 / 7:47 AM / 10 days ago

Gambling firm 888 forecasts annual earnings to top expectations; shares jump 10%

June 26 (Reuters) - Online gambling firm 888 Holdings said on Friday it expects annual adjusted core earnings to be significantly ahead of expectations, as more users came on board, sports events returned, and the poker segment performed well.

Shares in the company jumped 10.6% at 167 pence by 0717 GMT.

The company said its average daily revenue so far this year has been 34% higher than last year, adding that it has benefited from a shift towards online services.

“We have seen a better-than-expected customer reaction to the gradual return of sports events during recent weeks and, during June so far, our sport revenue run-rate has been ahead of June 2019,” Chief Executive Officer Itai Pazner said. (Reporting by Tanishaa Nadkar in Bengaluru; editing by Uttaresh.V)

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