betting giants<\/a> results after the purchase of the company in July last year for \u00a32 billion.<\/p>\nBut that acquisition hit the 888\u2019s bottom line still showing a loss of \u00a332.5 million compared to a profit of \u00a312 million in the same period last year, this was down to higher interest costs and what 888 said were \u201ccertain one-off costs\u201d from the acquisition.<\/p>\n
The gambling giant said it had paid off \u00a368 million of its debt pile to now at \u00a31.66 billion.<\/p>\n
With the latest announcement the company said it now expects to reach their target of \u00a3150 million of synergies a year early in 2024.<\/p>\n
Executive chair of 888 Lord Mandelson said, \u201cthe company successfully\u201d navigated business, market and regulatory volatility and \u201cmade very strong progress with the execution of our integration plan\u201d.<\/p>\n
\u201cWe now expect to realise the full \u00a3150m of synergies in 2024, a year earlier than the original plan.\u201d<\/p>\n
\u201cWe have successfully delivered against our focused market strategy, changing the mix of our revenue and creating a more profitable and sustainable platform for future growth,\u201d he added.<\/p>\n
Online gambling business saw a rise of 10% in active users but a fall of 9% in revenues over the period which 888 said was down to new player safety measures introduced by the UK government White Paper in April this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
888 announced its half yearly results today showing revenues up a huge 165% following the acquisition of William Hill now fully in-line with the betting giants results after the purchase of the company in July last year for \u00a32 billion. But that acquisition hit the 888\u2019s bottom line still showing a loss of \u00a332.5 million […]<\/p>\n","protected":false},"author":3,"featured_media":27544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2,11,8],"tags":[],"class_list":["post-55246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-gaming","category-headlines","category-latest"],"yoast_head":"\n
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