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...But the biggest hurdle to any deal would have been 888’s £1.7bn debt pile, left over from the acquisition of William Hill’s non-US business from Caesars Entertainment last year, they added....
...Its revenues reached £1.7bn last year, up from £1.2bn in 2022. In contrast to some rivals, the US is not a key market for 888....
...Full-year revenues for 2023 dropped by 8 per cent to £1.7bn, 888 said, blaming the fall on a shift away from less regulated markets, a changing customer mix resulting from stricter gambling rules in the...
...Flutter, Entain, Bet365 and 888 — the four biggest operators — already pay a voluntary contribution of 1 per cent of gross gaming revenues a year, but some safer gambling campaigners argue there is industry...
...Corporate updates: Gibraltar-based gambling group 888 Holdings publishes its full-year results alongside rival Flutter Entertainment, Scottish drinks makers AG Barr and Fever-Tree Drinks....
...The company is also grappling with 888’s large debt pile, after its £1.95bn acquisition of William Hill’s non-US operations from Caesars last year....
...Total US revenues were up nearly 56 per cent between January 1 and March 17. At the end of 2023, its share of the sports betting market stood at 53.4 per cent. Of course, much can still change....
...The investor group, which revealed its 6.57 per cent stake on Tuesday, believes 888’s stock is undervalued because of a series of compliance failings and its large debt pile following its £1.95bn takeover...
...£1.6bn debt pile....
...its £1.95bn takeover of William Hill....
...Shares in 888 tumbled by 26 per cent in late afternoon trading following the warning from 888, which last year generated about two-thirds of its £1.8bn in revenues in the UK. 888 said it had sought clarification...
...New York cocoa futures have surged to $5,888.00 per ton, also an all-time high....
...The betting group posted pro-forma revenues of £1.85bn last year, down from £1.9bn the year before....
...Its shares fell 1.4 per cent immediately after the announcement, ending down 0.9 per cent....
...The betting group posted revenues of £1.85bn last year, down from just over £1.9bn the year before....
...To make matters worse, the UK gambling commission in March fined businesses owned by William Hill, which 888 bought for £1.95bn last year, a record £19.2mn for compliance failures that happened prior to...
...FY, JD Sports FY trading update, Walgreens Boots Alliance Q2 Friday Takeover Panel deadline for Julian Dunkerton to announce a firm intention to make an offer for Superdry or not, extended from March 1...
...Puttin’ on the Ritz Architect-designer Tanju Özelgin has reinterpreted slick 1970s design at The Ritz-Carlton’s first European standalone private residences in Istanbul (from €1.57mn) with a moody palette...
...Dafna, 49, has served as finance chief for two years — a period that covered 888’s £1.95bn purchase of rival William Hill’s operations outside the US, which included 1,500 UK betting shops and online operations...
...Net debt stood at £1.7bn last year, 5.5 times ebitda largely from the purchase of 1,400 UK betting shops....
...A banker working with 888 said changes at the top were “exceedingly unhelpful” for the group’s turnround plans. 888 has also vowed to grow its full-year revenues from £1.85bn to £2bn by 2025. 888 has been...
...As of the end of December, 888 was carrying net debt of £1.7bn, which equates to 5.6-times cash profits....
...£1.85bn to more than £2bn by 2025....
...“We remain focused primarily on successful integration, execution and deleveraging in order to unlock the potential from our enlarged business,” he added. 888’s gross debt stood at £1.8bn at the end of...
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