888’s Owner, William Hill, Moves Quickly with Revenue Outperforming Expectations in Trading Update

888 reported that its revenue during the period had reached £431 million, slightly above the recently outlined guidance range of £420-430 million. While this figure was three per cent lower than in 2023, it represented a two per cent increase compared to the final quarter of 2023, reflecting positive quarter-on-quarter trends. In the UK and Ireland online segment, revenue decreased by one per cent due to reduced sports revenues, offsetting a four per cent growth in gaming.

This decline was attributed to increased customer investment across the Cheltenham Festival relative to the previous year. The average monthly active customers increased by nine per cent. Chief executive Per Widerstrom expressed satisfaction with the first quarter revenue, noting strong player volumes and improved revenue run rates.

He mentioned overcoming various regulatory and compliance changes during the quarter, and with increased marketing investment supported by an exciting product pipeline, the company remains confident in a return to growth from the second quarter. Widerstrom also highlighted the progress made against the multi-year value creation plan outlined alongside the full-year results in March. Additionally, it was noted that Racing Post features the best offers all in one place.