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INFORME 2019

 The 2019 Financial Results of 888 suffer due to the 10% drop in income in the spanish market

 
 With record income worldwide, the 2019 exercise of 888 Holdings has had a weak point, the Spanish market, which has seen growth after many years has seen a 10% drop in its income and therefore a significant decrease in the weight of its results in the Group as a whole. We highlight below the most important data of the Financial Report 2019 of 888.
INFOPLAY |
Due to the Covid-19 crisis, the London Stock Exchange granted a two-week extension so that the companies listed on their parquet could present the Financial Results for 2019, which in theory should be done during the first three months of 2020. 888 Holdings, one of the main online gaming companies in the United Kingdom and the world, has presented its annual results where we will pay attention to what until now was the second largest in the regulated markets where it operates -Spain-. But we will first point out the most important figures for the year at the global corporate level:

- The Group's income increased 6% to reach 560.3 million dollars (in 2018 it reached 529.91 million)
- Constant monetary income (cash flow) also increased by 10%
- Casino Unit revenues increased 13% to $ 359.3 million
- Income from the Sports Betting Unit (888 Sport) increased 12% to 90.0 million
- Poker Unit revenue decreased 13% to 49. million).


As we show below, the company's share price remained largely unchanged throughout the year, trading at 888 Holdings for around 165 pence on January 1, 2019 and also at December 31, 2019. same year.


In any case, 2019 has been an exercise with enormous challenges for the operator, which among other important movements has highlighted the following related to Responsible Gaming in the same Report:
  • Interactions with UK customers regarding safe responsible gaming increased by 16%, reflecting 888's proactive approach to preventing gaming related harm
  • UK customers' use of safer gaming tools increased by 28% as 888 continues to promote safe gaming for its customers
  • Launch of the safer game advertising campaign "Too Much is Too Much" through TV, social and print channels in the UK and Spain in early 2020
  • Development of the new My Play feature to be launched in 2020 on each of the 888 websites to provide customers with a better understanding of their gaming behavior and further increase the importance of safer gaming tools.

Regarding what happened in the Spanish market, the Annual Report highlights that the income obtained in Spain has fallen by 10% compared to the 2018 financial year. A figure that breaks the streak of seven consecutive years of growth, although in 2018 income only grew by one 3%. Specifically, in 2019 revenues were $ 60.9 million (in 2018 they exceeded 68.0 million), reflecting a 10% decrease in revenue from year to year. As a result of this, Spain represented in 2019 just 11% (in 2018 it was 13%) of the Group's total income.

In any case, the report notes that the progress of the 888 Group in Spain was moderated by "weaker poker activity", which was affected by increased competition from operators offering liquidity from players shared with France in which 888 did not participate. And it is that we remember that although 888 presented in the summer of 2019 the agreement with the Portuguese Regulator that allowed it to operate in a shared liquidity market with the neighboring country, the two major competitors of 888poker (Winamax and PokerStars) have France as great support to have a much higher traffic of poker players taking into account the evident superiority of the French market compared to the Portuguese one.

Full Report HERE
18+ | Juegoseguro.es – Jugarbien.es

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