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888 expects earnings improvement

by LLB Reporter
14th Apr 23 9:40 am

888 today said it had made an adjusted pre-tax profit of £80.5m, down 10% compared to the year before thanks to increased interest costs that the business had taken on after buying William Hill.

Executive chair Lord Mendelsohn said: “The combination with William Hill transformed the group and brought together two exceptional and complementary businesses to create one of the world’s leading betting and gaming businesses.”

AJ Bell’s Russ Mould said: “Troubled William Hill owner 888 provided some relief to suffering shareholders as it pointed to higher earnings and the company is confident the business will hit targets out to 2025.

“What may get in the way are the company’s ongoing regulatory issues. The biggest ever fine from the gambling watchdog handed to William Hill a month or so ago suggests there is a danger the company may lack the necessary controls to avoid further trouble.”

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