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888 Sees H1 Revenue Broadly In Line With Board Expectations

888 Holdings Plc. (888.L), an online betting and gaming company, Thursday said it currently expects to report revenue of between 330 million pounds and 335 million pounds for the first half.

The expected result is broadly in line with board expectations. The company said the growth in certain European markets will be offset by the impact of additional safer gambling measures as well as the temporary exit from the Netherlands.

The company, which is in deal to acquire international or non-US business of William Hill, reported that William Hill's first-half revenue is currently expected to be between 620 million pounds and 630 million pounds. Thes performance reflects the re-opening of retail operations, offset by the impact of increased safer gambling measures in UK Online, and certain market adjustments or exits within International Online such as the Netherlands.

Capex for the year 2022 is expected to be slightly higher than 2021 for both 888 and William Hill.

888 currently expects to close the transaction on July 1.

Separately, the company announced its proposed intention to market senior secured indebtedness through its unit 888 Acquisitions Limited. In connection with this, the company has issued updated pro forma financial information for fiscal 2022 as part of the offering memorandum.

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