888 secures Swedish online gambling licence

RNS Number : 1743L

888 Holdings plc

20 December 2018

 

20 December 2018

888 Holdings Public Limited Company

("888" or "the Group")

888 secures Swedish online gambling licence

888, one of the world's most popular online gaming entertainment and solutions providers, is pleased to announce it has been awarded a licence by the Swedish Gambling Authority to provide online Casino, Sport and Poker services in Sweden.

The licence has been granted for a five-year period and will be effective from when the new regulated Swedish regime commences on 1 January 2019. 888 now holds licences in 11 jurisdictions.

The Swedish online gambling market is expected to reach €1.13bn euros in 2018, according to data from H2Gambling (August 2018). The Group welcomes the new Swedish regulation, which will benefit both customers and operators by supporting an increasingly safe, secure and entertaining gaming experience.

Itai Frieberger, Chief Executive Officer of 888, said:

"Continued expansion in regulated markets is central to 888's growth strategy, so we are delighted to have been granted a licence in Sweden, ahead of the market's regulation coming into force in January 2019. Sweden is a significant online gaming market and we look forward to further developing our Casino, Sport and Poker offerings for our Swedish customers, so they can enjoy our innovative gaming products responsibly.

"Underpinned by our proprietary technology platform, marketing strength and CRM expertise, 888 has an outstanding track record of driving growth in newly regulated markets. During the first half of 2018, the vast majority of the Group's revenues were generated in regulated and taxed markets. We expect this to further increase over the coming years, as more markets regulate online gaming and we continue to leverage our core capabilities to gain market share."

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Enquiries and further information:

http://corporate.888.com/ 888 Holdings Plc
Itai Frieberger, Chief Executive Officer	[phone]
Aviad Kobrine, Chief Financial Officer Itai Pazner, Chief Operating Officer
Hudson Sandler - [e-mail]
Alex Brennan Hattie O'Reilly	[phone]
Bertie Berger

Notes to Editors:

888 Holdings Public Limited Company (888) is one of the world's most popular online gaming entertainment and solutions providers.  888's mission is to supply its customers with innovative and market-leading online gaming products, above all in a safe and secure environment.

888 has been at the forefront of the online gaming industry since foundation in 1997, providing to players and B2B partners an always innovative and world-class online gaming experience. At the heart of 888's business is its proprietary gaming technology and associated platforms.

The Group is structured into two lines of business: B2C, under the 888 brands, and B2B, conducted through Dragonfish, which provides partners a leading platform through which to establish an online gaming presence and monetise their own brands.

888's consumer facing websites offer more than just online gaming. They are entertainment destinations: places where people can enjoy a truly interactive experience and be part of an online community that shares common interests. 888's strong and trusted brands are all accessible through www.888.com.

Find out more about 888 at http://corporate.888.com/.

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Forward- looking statements may and often do differ materially from actual results. Any forward-looking statements in this announcement reflect 888's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, 888 undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

 

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