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William Hill owner 888 sees revenues hit as new gambling rules bite
888 reported revenues of £405 million for the third quarter, down from £449.4 million. UK & Ireland online business also saw revenues drop 10% to £157.2 million. Group blamed tougher regulations introduced in the Government’s gambling white paper.
BUSINESS LIVE: CPI flatlines at 6.7%; Barratt warns of 'uncertain' outlook; Whitbread profits soar Barratt Developments, Whitbread, 888, Kin and Carta, Supreme, LBG Media, Sosandar and Just Eat are among the companies with reports and trading updates. Read the Wednesday 18 October Business Live blog below.
William Hill revenues drop 10% as it takes a hit from new gambling rules 888 reported revenues of £405 million for the third quarter, down from £449.4 million a year ago. UK & Ireland online business also saw revenues drop 10% to £157.2 million. Group blamed tougher regulations introduced in the Government's gambling white paper that was unveiled in April.
William Hill owner 888 sees earnings and revenue lower Gambling group 888 warned of a hit to earnings and revenue on Thursday. William Hill owner said that it expects revenue for the third quarter of the year to dip around 10% to somewhere close to £400 million.
World Cup fuels surge in women's sports betting, but early kick-offs weigh William Hill, now owned by bookmaker 888, said it has taken 900,000 bets on one of the biggest women's sporting events in the world. The first three England games saw one-fifth of bets placed by women.
SHARE OF THE WEEK: Entain one of three gambling stocks updating performance Betfair and Paddy Power owner Flutter is first up on Wednesday. Then it will be Entain's turn a day after before 888 takes centre stage. Entain is a particular favourite with retail investors.
New National Lottery operator hires UK chief executive Andria Vidler is the former boss of music label EMI in the UK and Ireland. She is also a board director at William Hill owner 888. She succeeds Allwyn group chief executive Robert Chvatal.
Bookmaker 888 ends talks with investor group, shares drop British Bookmaker 888 ended talks with FS Gaming over board changes. Shares of 888 were down 21% on the news. GB Gambling Commission determined a licence review is appropriate.
Bookmaker 888 ends talks with investor group, shares drop British Bookmaker 888 (888.L) ended talks with FS Gaming over board changes. Company said any actions by the shareholder to change corporate control would likely put its UK licence at "significant risk"
Kenny Alexander's comeback bid at William Hill owner collapses over bribery scandal Controversial former boss of FTSE 100 gambling operator Entain and his lieutenants were making an audacious comeback bid by seeking top positions at 888. They built a stake in the London-listed bookmaker and opened talks with its executive chairman. But 888 announced it had terminated discussions following a warning from the Gambling Commission. Regulators indicated that appointing Mr Alexander and his allies put its licences in jeopardy, owing to their links to a long-running bribery scandal at Entain.
Gambling tycoon’s comeback bid at William Hill owner collapses over bribery scandal Controversial former boss of Entain and his lieutenants were making an audacious comeback bid by seeking top positions at 888. They built a stake in the London-listed bookmaker and opened talks with its executive chairman Lord Mendelsohn. But 888 announced it had terminated discussions following a warning from the Gambling Commission.
Kenny Alexander gears up for boardroom coup at William Hill-owner 888 Kenny Alexander and his allies have hired investment bankers from Numis. They are preparing for a potential showdown with the board of 888 and its cornerstone investor. Mr Alexander took a surprise stake in 888 earlier this month. He has presented the board with proposals to install himself as chief executive.
Kenny Alexander gears up for boardroom coup at William Hill-owner Kenny Alexander and his allies have hired investment bankers from Numis. Mr Alexander took a surprise stake in 888 earlier this month. He has presented the board with proposals to install himself as chief executive and his close ally as chair.
BUSINESS LIVE: Dechra profits hit hurt; Begbies Traynor ups forecasts FTSE 100 will open at 8am. Dechra Pharmaceuticals, Begbies Traynor, Natwest, 888, Johnson Matthey, Wincanton and Kainos Group among companies with reports and trading updates.
888 sees chunk of online sales disappear after problem gambling efforts The business saw revenue drop 3% to around £1.9 billion last year. 888 bought William Hill last year for nearly £2 billion.
888 sees chunk of online sales disappear after problem gambling efforts 888 said that its total revenue had dropped around 3% to £1.9 billion in the year to the end of December. The business reported a £115.7 million pre-tax loss due to one-off costs, including some of those linked to the nearly £2 billion acquisition.
Bookmaker 888 sees higher 2023 profit, partial Mideast... 888 Holdings Plc's shares shot up over 18% after the British bookmaker forecast higher adjusted core profit for 2023. Bookmaker expects to partially recover revenues lost due to its suspension of VIP activities in the Middle East. Gibraltar-headquartered 888 also said it is cutting costs and focusing on core and growth markets.
Recovering addict calls for ban on online gambling advertising James Grimes first started gambling at the age of 16 with a £5 bet on a football match. The settlement relates to the period when William Hill was under the previous ownership and management. The company was purchased by 888 from Caesar's Entertainment in July 2022.
UK's William Hill given record $24 million fine for... UK's William Hill given record $24 million fine for gambling failures. Regulator considered suspending the firm's licence. Online gaming and betting operator 888 owns William Hill.
Sorry to hear you’re leaving . . . Moonpig set for stock market demotion Moonpig, the online seller of greeting cards run by Nickyl Raithatha, and 888, the gambling group, look likely to be demoted from London’s second tier.
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