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888 revenue jumps 66% in Q1; sees adjusted earnings 'broadly' flat year-on-year
StockMarketWire.com
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Gambling company 888 said it expects adjusted core earnings for the full year to be 'broadly consistent' with the prior year, after reporting better-than-expected first-quarter performance.
'The board expects adjusted EBITDA for the full year to be broadly consistent with the prior year, despite increased investment in US B2C expansion,' the company said.
For the first quarter, revenue grew 66% to $272.5 million, driven by 'product-leadership strategy, long-term positive customer acquisition trends, and continued expansion in regulated markets,' it added.
Average daily first time depositors were up 27%, and funded active players was up 18%.
'The strong momentum in 2020 has continued into the first quarter of 2021, with a new all-time-high for FTDs and revenues, although year-on-year trends were partly inflated by the disruption to sporting events at the end of the prior year period, and increased demand for digital entertainment during this period across our main markets,' the company said.
At 8:07am: (LON:888) 888 Holdings PLC share price was 0p at 256.5p
Story provided by StockMarketWire.com
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