888 Holdings has reported revenue of £332.1m ($404.3m) for the six months ending 30 June 2022, a 13% decline from the prior-year period.
888 noted that the majority of the business posted relatively stable revenues, but this was offset by declines in the UK – reflecting the implementation of more stringent safer gambling policies – and the closure of the Netherlands. Excluding these two regions, revenue was up 2% year-on-year.
Adjusted EBITDA for the period was £50m, a year-on-year decline of 29%, with the adjusted EBITDA margin lower due to “continued investment in the US to support SI Sportsbook state launches, together with additional compliance related costs.”
Profit before tax was also down year-on-year, declining 66% to £14.4m.