888 pays out as strong results give investors special dividend

 
Adam Hignett
Gambling firm 888 saw its profits rise in 2014 before a new tax’s impact was felt
ONLINE gambling firm 888 Holdings has rewarded shareholders with a special dividend of seven cents per share, after seeing revenues and profits rise in the year ending 31 December.

It said 2014 was a “record-breaking year” for the firm as it benefited from increased mobile usage and “spectacular” growth in sports betting. The company predicted further growth in the global gambling industry throughout 2015, but expected conditions to remain challenging in poker and the UK bingo market.

Future growth in the UK is parti­cul­ar­ly unpredictable after the introduction of the Point of Consumption Tax which came into force in December.

Overall company revenues increased 14 per cent in the year ending 31 December to $455m (£305m), with pre-tax profits rising by 28 per cent to $68m. Brian Mattingley, the chief exec­utive, said the “outstanding” result was a reflection of the firm’s strategy.

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