888 Holdings Sees Profits Drop

888 Holdings saw a drop in full year profit in part due to the termination of its agreement to buy Bwin.party Digital Entertainment. However, revenue grew, as did the number of active customers.

For 2015, pre-tax profit fell to .5m (from .9m in 2014 as the group incurred legal and professional costs in of .5m as it unsuccessfully attempted to acquisition of Bwin.party.

Revenue increased to $462.1m from $454.7m as the company saw a 13 percent rise in active customers in its B2C business.

The 888 board proposed a final dividend of 4 cents per share and an additional one-off dividend of 8 cents per share, taking the total dividend for the year to 15.5 cents from 15 cents a year ago.

“The online gaming market is dynamic and will continue to develop and grow globally,” Chairman Brian Mattingley said. “This will be driven primarily by marketing channels, new regulation, and the increasing adoption and sophistication of mobile devices, making our gaming entertainment ever more accessible and enjoyable.

“Trading during the financial year to date has been strong with average daily revenue 20 percent above the previous year,” he said. “With strong operational momentum in the business our focus will continue to be on delivering a truly satisfying experience for our customers and delivering strong, sustainable long term earnings growth for our shareholders.”