888 holdings stated that it is on track to achieving depreciation, tax, amortization and adjusted earnings commensurate with its 2019 expectations after the firm was boosted by an incredible performance this past December.
Although the firm did not post numbers, it stated in a recent trading update that its overall performance in 2019 was primarily brought about by the success of Orbit casino as well as additional growth in the Sports Betting.
With regards to casino, the firm stated although poker has been a huge challenge in 2019, the firm was happy with phase one of the roll-out of its new poker 8 platform in the second segment of the year.
The firm plans to add a few more features to its platform this year and roll out the last phase across the current poker markets.
The firm intends to focus on geographical performance. It has continued to raise its revenues in the U.K. due to efforts it has made to engage recreational consumers. Across the border in Italy, the firm experienced further growth during the second half of 2019, mainly due to the continuing growth of its casino establishments.
As for the Spanish market, the firm notes that the roll-out of a competitor shared liquidity networks between Portugal, France and Spain affected growth. However, the firm also stated it was greatly invigorated by the good performance of the shared liquidity network between Spain and Portugal, which was launched last July.
Additionally, 888 has highlighted continued progress in the Romanian and Swedish markets through 2019, resulting in the growth of revenue throughout the year.
Following the firm’s acquisition of Irish sports betting Betbright this past march, Pazner added that the firm would continue investing in order to support its growth plans.