In 2018, 888 Holdings witnessed a marginal decline in revenue, generating a sum of $5.299 billion. This slight downturn was linked to heightened rivalry within the sector and ongoing shifts in regulations.

Assuming the role of CEO in January 2018, Itai Pazner, during an exclusive dialogue with Gambling Insider, conceded that the year’s results had not met initial projections.

This sentiment resonated within 888’s financial disclosures. The enterprise experienced a substantial 37% reduction in B2C poker revenue, amounting to $49 million for the year. Similarly, B2C bingo revenue witnessed a decrease, falling by 17% to $32.4 million. These two elements were the principal drivers behind the overall revenue contraction.

Nevertheless, the picture wasn’t entirely bleak for 888. The company benefited from a 6% surge in B2C sports wagering revenue, reaching $80.3 million, largely fueled by the enthusiasm surrounding the FIFA World Cup. Moreover, B2C casino revenue displayed robust expansion, climbing by 8% to $3.176 billion.

On a brighter note, adjusted EBITDA exhibited a healthy 6% rise, hitting $1.071 billion, while adjusted profit before tax ascended by 11% to $86.7 million.

CEO Pazner maintained an optimistic outlook, remarking, “Notwithstanding obstacles in certain domains, 2018 yielded a robust financial performance overall, and we attained unprecedented EBITDA figures.”

He further emphasized the group’s consistent growth across diverse regulated markets, particularly in continental Europe, ascribing this achievement to the strong showing of their casino and sports betting products.

Despite these encouraging takeaways, the market response to the announcement was somewhat subdued, with 888’s share price experiencing a modest increase from £1.65 to £1.67 on the day the data was made public.