888’s FY17 earnings on target despite regulatory pressure

UK-listed online gambling operator 888 Holdings has reassured investors that the ups and downs of its turbulent 2017 won’t have a significant impact on its full-year results.

In a trading update issued Thursday morning, 888 announced that its adjusted earnings for FY17 will be “in line with market expectations.” The market reacted with a shrug, leaving 888’s share price at 277.5p at the close of Thursday’s trading, virtually unchanged from the day before.

The company hailed “further progress in Casino, strong momentum with 888Sport, increased activity on mobile devices and continued expansion” on the European continent, “most notably Italy and Spain.” 888 CEO Itai Freiberger also emphasized the company’s “firm focus on enhancing operational efficiencies.”

This result will come despite 888’s 2017 exits from five markets – including Australia and Poland – and what the company described as an “increased regulatory focus, primarily in the UK.” Freiberger said a “major focus” of the company’s 2017 activity has been on “leading the way in terms of compliance and responsibility.”