A prominent gaming and leisure corporation, 888 Holdings, recently published its fiscal performance for the year ending February 28, 2022. The firm declared earnings of £690 million (roughly $8.4 billion USD), with modified EBITDA attaining £1.09 billion. These statistics encompass the outcomes of William Hill’s global operations, which 888 Holdings procured in a significant transaction.
888 Holdings emphasized the favorable influence of the retail segment’s resurgence and strong showing in numerous regulated territories. Nonetheless, these advances were somewhat counterbalanced by the shuttering of the Netherlands market and the execution of heightened responsible gaming protocols within the UK’s online sector.
Moving forward, 888 Holdings projects income for the half-year concluding June 2022 to range between £330 million and £335 million. This forecast aligns with projections, considering the effects of the provisional exit from the Dutch market and the sustained emphasis on responsible gaming policies.
In a distinct declaration, 888 Holdings also disclosed its aim to amass £1 billion via a share offering. This action is presumably part of the company’s plan to bolster its financial standing following the William Hill acquisition and to seek additional expansion prospects within the worldwide online gaming arena.
The firm is carrying a substantial amount of debt – exceeding €20 billion, with the majority structured as secured debt instruments. These consist of elements such as US dollar-denominated term facilities maturing in 2028, in addition to euro-denominated bonds featuring both fixed and variable interest rates, reaching maturity in 2027 and 2028, correspondingly.