888 hits expectations despite writedown on acquisition

 
Steve Dinneen
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Gaming firm 888 said it is performing well in a tough market as it unveiled a pre-tax loss of £15.5m for its first half, in line with expectations.

Its accounts included a £20.2m writedown on its Mytopia social media business, which it acquired in 2010.

Its revenue jumped 18 per cent from £130m in the first half of last year to £153m.
Brian Mattingley, deputy chairman of 888, said: “This is a very strong set of results driven by good operating performances across our business lines.

“We are in good shape and, bolstered by our renewed strategic focus, are well positioned to take advantage of opportunities in newly regulated markets.

“The third quarter, which includes the traditionally quiet summer period, has to date seen strong trading across all our business lines.”