888 Holdings Strengthens Focus on Spain as Key Market in Strategic Plan

Online gaming company 888 Holdings has announced its strategic plan centered around key markets, including Spain, as part of its goal to generate strong returns and maximize cash flow. According to a press release, the company has streamlined its market archetypes into two main categories: Core Markets (the UK, Italy, Spain, and Denmark) and Optimisation Markets.
In line with this market approach, the company has initiated a strategic review of its US business to explore all potential value-generating alternatives, aiming to achieve significant cost savings. However, 888 Holdings will continue to prioritize its four core markets: the UK, Italy, Spain, and Denmark, which already contribute to approximately 85% of its total revenue and nearly 80% of its online revenue.

Emphasizing the significance of Spain, the company highlights its long-term growth potential, high barriers to entry, and established regulatory frameworks in this market. With a solid position already established, 888 Holdings plans to leverage its local expertise and diverse brand portfolio to increase its market share in Spain and drive sustainable profitable growth.

Additionally, the company acknowledges the tax benefits derived from operating in territories such as Gibraltar, Spain, and Malta, where effective tax rates are lower. However, it also identifies potential tax exposures under OECD income tax policies, particularly concerning profits earned in Gibraltar, Malta, and Spain.

In summary, 888 Holdings is reaffirming its commitment to Spain and other key markets while striving to optimize its financial performance and comply with evolving international tax regulations.
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