Wednesday 19 December 2018 12:02 pm

888 goes all in for strong full-year results after US expansion

Online gambling firm 888 today said it remains confident its full-year earnings are on track as it looks to move into the US market.

In a pre-close trading update the company said it had delivered positive trading in the second half of the year due to an ongoing focus on product enhancement.

Shares in 888 were up over seven per cent this morning after the update.

Chief executive Itai Frieberger said: “Underpinned by the strength of the group's technology, as well as our fantastic team and diversification across products and regulated markets, the board remains excited by 888's long-term growth prospects.”

Last week the gambling firm bought the remaining 53 per cent stake in All American Poker Network (AAPN) for $28m (£22.3m).

888 acquired the majority stake from its joint venture partner Avenue OLG Entertainment in a bid to strengthen its position in the US market.

In September the company launched in New Jersey as it looks to capitalise on more relaxed sports betting laws in the country.

“888 remains very excited by the significant long-term growth opportunities in the US market and, throughout the year, we have made significant operational progress in the region,” Frieberger added.