Online betting group 888 Holdings reported record interim profits and lifted annual guidance driven by a spike in volumes during Covid lockdowns and the European football tournament.
The company on Wednesday reported a 39% rise in adjusted core profit to $97.4m for the six months to June 30. Revenue increased 39% to $528.4m.
Pre-tax profit rose to $57.9m from $50.9m a year ago. An interim dividend of 4.5c per share, up 41%, was declared.
888 had said it witnessed more bets being placed on England-Italy final during the Euro tournament than on any other sporting event.
However, revenues over the past two months rose by mid-single digit percentage compared with last year as the reopening of retail and leisure venues from lockdowns led to a slowdown in the rate of growth.
“The board remains mindful of the tougher comparables in the upcoming fourth quarter, a period that enjoyed an exceptionally strong performance in both betting and gaming revenues during 2020,” 888 said.
