New strategy and brand identity plans revealed for 888 in exciting new dawn.

Per Widerstrom, the chief executive of 888, spoke about the company’s full-year results for 2023. The year was marked by significant changes, including the departure of long-standing CEO Itai Pazner, profit warnings, and takeover speculation. Additionally, the Gambling Commission announced that it would not take further action following a license review triggered by a previous takeover attempt. The company is considering changing its name to Evoke plc to better represent its multi-brand operating model and vision for the future.

Widerstrom emphasized 888’s focus on creating value as part of a new strategy and outlined plans to grow revenue and achieve annual cost savings. An executive team has been strengthened with new appointments, including Mark Kemp as chief commercial officer. The company’s reported revenue for 2023 was £1.7 billion, a 38% increase from the previous year. Despite this, the earnings experienced a decrease on a pro forma basis.

Widerstrom expressed confidence in the company’s prospects for long-term success, highlighting its leading positions, proprietary technology, management team, and strong brands. Analysts viewed the update as positive for 888, with the company’s share price closing up more than six per cent.