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888 Holdings Publishes its 2019 Full-year Results

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888 Holdings Publishes its 2019 Full-year Results
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Gambling firm 888 Holdings has published its 2019 full-year results.

Revenue was up 4% to $560.3m last year but the profit before tax fell from $108.7m to $45.3m. Adjusted earnings before interest, tax, depreciation and amortisation fell 20% from $107.1m to $85.6m in 2019. The group’s cost ratio increased to 85% of revenue, compared to 80% in 2018.

888 said increased gaming duties in the UK, expansion in regulated and taxed markets and an increase in overheads due to the Betbright acquisition reduced profitability in 2019.

The company said it is “committed to expanding in the US” where it plans to strengthen its team, marketing and product during the year.

“We will continue to appraise potential partnerships that will support 888’s continued expansion and long-term prospects in the regulated US market,” the company said.

888 also said it will continue to target merger and acquisition opportunities, despite the market uncertainty caused by the coronavirus pandemic.

The cancellation of sporting events around the world will impact the group, however, there has been increased customer interest in its casino and poker products.

“Whilst the COVID-19 outbreak is setting back the global economy, 888 remains confident that it will be able to deliver on its plans for 2020 set out in this annual report,” the firm said.

Chief executive Itai Pazner said: “The Board is closely monitoring the impact of COVID-19 on 888 and its customers.

“We continue to recognise that with people spending more time at home and with increased levels of stress and economic uncertainty, 888’s unwavering commitment to preventing gambling related harm is even more important than ever.

“We are proactively communicating with our customers to provide information on safer gambling and, where necessary, offer support. In addition, in recent weeks we have introduced several new alerts to our proprietary safe gambling software, the Observer, which constantly scans all customer activity and flags any potential areas of concern to our highly trained customer care team to act upon in order to prevent harm.

“Underpinned by the strength of 888’s technology, our growing customer base and our talented and committed team, the Board continues to see a number of significant and exciting growth opportunities for 888 which we are confident of progressing during 2020 and beyond.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: 888 Holdings Publishes its 2019 Full-year Results

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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FBM Foundation elevates schools in Laguna and Cavite with donations to boost digital educational progress

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The two solidarity gestures executed by FBM Foundation in May prove once again the project’s commitment to nurturing future digital leaders and empowering communities through education.

This significant donation to Mabato National High School included 15 computer sets, tables, chairs, and 300 FBM Foundation backpacks. FBM Foundation conducted a turnover ceremony at Mabato National High School, on May 17th, attended by Pepe Costa, FBM’s Country Manager for the Philippines, and six volunteers. The ceremony highlighted the contributions of Gareth M. Prondoza, the School Head, and the teaching and non-teaching staff for their coordination.

In Dr. Jose P. Rizal Senior High School, FBM Foundation donated 35 computer sets, tables, chairs, 2 split-type air conditioners, and 800 FBM Foundation backpacks. This second social effort had a final turnover ceremony at Dr. Jose P. Rizal Senior High School. Renato Almeida, Director at FBM, Pepe Costa, and Alex Studart, Head Operation Manager at MEMO, attended the ceremony together with 15 volunteers.

During the event, special acknowledgments were given to Ms. Maria Lalaine M. Barrameda, Assistant School Principal II, Mr. Sandy U. Mera, ASP Coordinator, Mr. Robert John Dela Cruz, and the teaching and non-teaching staff for their invaluable contributions.

Alongside the computer donations, FBM Foundation facilitated the renovation of the computer laboratory and faculty room at Mabato National High School and at Dr. Jose P. Rizal Senior High School. These renovations were supported by a dedicated team of volunteers who worked tirelessly to make the learning spaces safer and more comfortable, promoting holistic development and the welfare of the entire school community. FBM Foundation’s motto, “Building a Champion by a Champion: Shaping Digital Leaders Tomorrow,” reflects its vision and impact. Through education, the corporate social responsibility project of the FBM® Group uplifts communities, drives innovation, and nurtures future leaders. The Foundation’s initiatives and partnerships are designed to catalyze positive change, inspiring students to achieve their dreams.

In total, 27 volunteers participated in the renovation and turnover ceremonies, showcasing the collective effort and dedication towards making this project a success.

The post FBM Foundation elevates schools in Laguna and Cavite with donations to boost digital educational progress appeared first on European Gaming Industry News.

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SkillOnNet Hooks Up with Spinomenal for Global Content Deal

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Global entertainment powerhouse SkillOnNet has teamed up with leading iGaming content provider Spinomenal in a new slots content deal. The multi-jurisdictional partnership means SkillOnNet’s international collection of brands are now showcasing Spinomenal’s top-performing titles, such as like Baba Yaga Tales, Demi Gods II and Queen of Ice.

SkillOnNet operates more than 40 online casino brands in numerous regulated markets. These include household names like PlayOJO in the UK and Ontario; PlayUZU in Spain, Mexico, and Buenos Aires City; BacanaPlay in Portugal, and DrueckGlueck in Germany.

Founded in 2014, Spinomenal is one of the fastest-growing iGaming suppliers in the industry. with more than richly themed 300 game releases licensed in over 25 licensed casino jurisdictions worldwide.

The revolutionary Spinomenal Universe has also now been unveiled on the SkillOnNet network which invites players to embark on a journey through an expansive world where beloved characters from various titles intertwine in fresh narratives.

Jani Kontturi, Head of Games at SkillOnNet said: “At SkillOnNet, we want partners that create games that really stand out from the crowd. Spinomenal’s portfolio is bursting with strong ideas, powerful stories, cool mathematical models and games that push the boundaries of creativity. We’re delighted to welcome them to our network.”

Lior Shvartz, CEO for Spinomenal commented: “SkillOnNet is a fantastic tier-one operator and we’re proud that our games are now available on its platform. We expect this to be the beginning of a long and mutually beneficial partnership.”

The post SkillOnNet Hooks Up with Spinomenal for Global Content Deal appeared first on European Gaming Industry News.

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SIS and RAS combine to deliver premium Live Racing offering to global operator Stake.com

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Sports Information Service (SIS) will provide Stake.com with its extensive library of global Live Racing content, along with early pricing and derivative markets supplied by Racing and Sports (RAS), to offer its bettors a best-in-class service.

SIS is the leading muti-content supplier of 24/7 live betting opportunities and is set to deliver its round-the-clock portfolio of horse and greyhound racing to Stake. To maximise engagement for Stake bettors, RAS will provide its vast range of early pricing and derivative markets to allow for longer trading windows.

This integration will allow Stake, in partnership with SIS and RAS, to present an array of wagering opportunities in a more accessible and relatable format.

Stake is a leading global betting operator boasting an online sportsbook and casino platform. It has secured high-profile sponsorships with Everton Football Club, UFC, the Stake F1 team and many more.

SIS’ Live Racing offering consists of over 36,000 live horse races annually from over 170 racecourses across six continents. This content includes live streaming, on-screen graphics and commentary, providing a unique and comprehensive experience. In addition, the greyhound racing portfolio of SIS offers a further 26,000 races annually to Stake.

RAS will provide enhanced data for the entire portfolio of content, enabling bettors to have all the necessary “easy to read” data and live comprehensive pricing available at a fingertip.

Andy Kelly, Head of Commercial Partnerships at SIS, said: “Stake has a huge footprint across the world and this deal is a major one for us, as we seek to expand the appeal of racing products. By providing our full range of racing content, we are confident this will enrich the customer experience.”

Jarrod Febbraio, Director of Commercial at Stake, said: “It remains our goal to continually strive to enhance our product portfolio to our customers. Partnering with RAS as our platform provider and SIS providing their racing content, with their long-standing reputations, speaks for itself.”

Stephen Crispe, Chief Executive Officer at RAS, said: “Our primary focus is to provide a best-in-class service to our customers. The extensive content available through SIS, together with the enhanced data, in several different languages provides RAS with an exciting opportunity to showcase our offering.”

The post SIS and RAS combine to deliver premium Live Racing offering to global operator Stake.com appeared first on European Gaming Industry News.

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