{"id":66,"date":"2024-06-12T20:47:36","date_gmt":"2024-06-12T17:47:36","guid":{"rendered":"https:\/\/cryptoleocasinonodepositbonus.icu\/2024\/06\/12\/888-holdings-navigates-challenging-2018-with-mixed-results\/"},"modified":"2024-06-17T13:10:09","modified_gmt":"2024-06-17T10:10:09","slug":"888-holdings-navigates-challenging-2018-with-mixed-results","status":"publish","type":"post","link":"https:\/\/cryptoleocasinonodepositbonus.icu\/2024\/06\/12\/888-holdings-navigates-challenging-2018-with-mixed-results\/","title":{"rendered":"888 Holdings Navigates Challenging 2018 With Mixed Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/VyfYIZEDKe0\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The year 2018 proved challenging for 888 Holdings, as their income experienced a 2% decrease, settling at $529.9 million.  The company attributed this downturn to a fiercely competitive landscape and escalating regulatory measures. <\/p>\n<p>Itai Pazner, who assumed the role of Chief Executive Officer from Itai Frieberger in January, candidly acknowledged the company&#8217;s &#8220;underwhelming&#8221; results in 2018 during a conversation. <\/p>\n<p>The financial figures support his assessment.  Their earnings from poker suffered a significant blow, plummeting by 37% to $49 million, while bingo revenue also witnessed a decline of 17%, reaching $32.4 million. These setbacks were the primary drivers behind the overall revenue contraction.<\/p>\n<p>However, there were some glimmers of hope.  Fueled by the excitement surrounding the FIFA World Cup, revenue from sports wagering surged by 6%, hitting $80.3 million. Casino games also demonstrated positive momentum, with revenue expanding by 8% to $317.6 million.<\/p>\n<p>In terms of financial gains, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) saw a modest 6% rise to $107.1 million, and adjusted profit before tax experienced an 11% increase, reaching $86.7 million.<\/p>\n<p>Despite the obstacles encountered, Pazner maintained a positive outlook, drawing attention to the unprecedented EBITDA and underscoring the company&#8217;s robust performance in regulated European markets, particularly in the casino and sports betting sectors.<\/p>\n<p>Notably, despite the optimistic tone, investors appeared somewhat unconvinced. 888&#8217;s stock price registered only a marginal uptick following the announcement, edging up from \u00a31.65 (approximately $2.17) to \u00a31.67. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The year 2018 proved challenging for 888 Holdings, as their income experienced a 2% decrease, settling at $529.9 million. The company attributed this downturn to a fiercely competitive landscape and escalating regulatory measures. Itai Pazner, who assumed the role of Chief Executive Officer from Itai Frieberger in January, candidly acknowledged the company&#8217;s &#8220;underwhelming&#8221; results in [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Holdings Navigates Challenging 2018: CEO Speaks<\/title>\n<meta name=\"description\" content=\"888 Holdings faced headwinds in 2018, with income dipping 2% to $529.9 million. 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