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888 Holdings Plc Announces Q3 2023 Trading Update

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888, one of the world’s leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, announced an update confirming its trading during the three months ended 30 September 2023 (Q3 2023).

Highlights

  • Group: performance in line with 28th September 2023 trading update with revenue of £405.0m, down 10% year on year. Trends and drivers of year-over-year performance are consistent with that update with significant and ongoing improvements being made to the sustainability and quality of the mix of the business impacting performance in the short-term.
  • UK&I Online: continued strong customer engagement with average monthly actives +17%. Revenue -10% driven by ongoing impact of safer gambling changes and refined marketing approach, coupled with lower-than-expected betting net win margin from customer friendly sports results in September, particularly UK football.
  • Retail: strong underlying performance driven by improved product offering through investment in SSBTs and gaming cabinets, partly offset by customer friendly sports results meaning revenue was +1% year-over-year.
  • International: average monthly actives -2% and revenue -19% with an ongoing significant impact from compliance changes in dotcom markets, particularly the Middle East, with a slower recovery in revenue and customer activity than initially anticipated.
  • Synergy delivery on track and significant cost savings being delivered that have helped to partly mitigate the impact of regulatory and compliance changes.
  • Section8 in-house games successfully integrated into William Hill online and the initial integration of William Hill’s proprietary global trading platform into 888’s in-house platform, with certain sports now being traded across the group from one trading engine.
  • Prioritising the safety and wellbeing of the Group’s more than 500 colleagues in Israel and their families following the outbreak of war post Period end. Activated business continuity plans, which are working well with no significant impact on business operations expected.
  • No change to expectations of Q4 revenue being down mid-single digit and FY23 Adjusted EBITDA Margin of 18-19%.

Per Widerström, CEO of 888, said: “I am very excited to have joined the 888 Group as the new CEO. I have already been struck by the strength of the Group’s assets and its clear potential, as well as the ambition of our team.

“I am happy to note that despite the regulatory challenges the Group has faced this year, the hard work by the team is already showing signs of results meaning that we head towards the end of the year with positive momentum, and well placed to grow in the coming years.

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“This is a business with a very strong foundation for profitable growth. But there are clearly also several areas for improvement which we will focus on to unlock our full potential and drive value creation. I am looking forward to working closely with our fantastic people in the Group, the talented executive team and the Board to ensure we are in the best possible position to deliver our plans and maximise value creation.”

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Melco’s Cyprus “Glow Your Way to Macao” Roadshow Promotes Macao’s Status as a Leading Leisure and Business Travel Destination to European and Arabian Markets

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With the aim of supporting the SAR government’s plans to promote international travel and boost tourism in Macao, on September 17, hosted the second in its series of “Glow Your Way to Macao” events, this time in Cyprus, to promote Macao’s status as a top travel leisure and business destination.

To appeal to travelers from European and Arabian countries, Melco invited approximately 150 guests from the government of the Republic of Cyprus, the Macao SAR government, travel agencies, business associations and media representatives from across Europe, the Gulf Cooperation Council (GCC) countries and Macao to the event hosted at City of Dreams Mediterranean. The roadshow introduced attendees to Macao’s diverse historical and cultural offerings and attractions, as well as Melco’s unparalleled and award-winning hotel, entertainment, dining and exhibition facilities.

Showcasing Melco’s steadfast commitment to promoting Macao as a global hub for both leisure and business travelers, Melco has set up sales offices to promote the city in Singapore, Hong Kong and the Philippines, and is currently in the process of setting up a sales office the Republic of Cyprus.

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Mr. Lawrence Ho, Chairman and CEO of Melco, said: “As a prominent integrated resort operator deeply rooted in Macao, we are thrilled to host our second ‘Glow Your Way to Macao’ event at City of Dreams Mediterranean. It serves as a testament to our support for the SAR government’s drive to attract further international travelers the city, and to expand Macao’s visitor sources in alignment with the “1+4” diversified development strategy. Being a study of contrasts — from its multicultural heritage to its culinary identity, Macao is a unique destination that truly never sleeps. We are thrilled to support the Macao government’s efforts to promote the city’s gastronomy, sporting events, culture, heritage and the creative arts as it continues to diversify and bloom. We are confident that Macao will grow to become an even more cherished and popular destination for travelers from Cyprus, the broader European and GCC market, as an exciting and remarkable city for visitors to immerse themselves in electrifying excitement.”

Mr. Andreas Gregoriou, Head of Presidency, Cyprus, said: “It is a great pleasure to welcome the Macao Authorities to Cyprus for this roadshow, showcasing Macao’s potential as a global destination for leisure and business travel. Cyprus, with its strategic location at the crossroads of Europe, Asia, and Africa, offers unparalleled access to markets in the wider Mediterranean, the Middle East, and beyond. As a member of the European Union, Cyprus serves as a gateway to one of the largest and most diverse economic zones in the world.”

Ms. Maria Helena de Senna Fernandes, Director of the Macao Government Tourism Office, said: “Macao and Cyprus have much in common and great room for cooperation in tourism and beyond. Helped by Melco Resorts & Entertainment’s City of Dreams Mediterranean and its Macao Sales Office in Cyprus, I believe that we can spark a long-lasting friendship and cooperation between our two destinations. We look forward to joining hands with Macao’s integrated resort enterprises to create more cooperation and jointly expand the international visitor source markets.”

Mr. Sam Lei, Director of Commerce and Investment Promotion Institute (IPIM) of Macao SAR, said: “As we strive to enhance Macao’s MICE development, it is great to see Melco continue to implement initiatives to promote the city and its MICE infrastructure to overseas markets, this time to audiences in Europe and the GCC. We will continue to leverage Macao’s unique advantages by collaborating with cross-sector stakeholders to attract more professional and international events, and make the ‘Golden Calling Card’ of Macao as an international metropolis shine brighter.”

The post Melco’s Cyprus “Glow Your Way to Macao” Roadshow Promotes Macao’s Status as a Leading Leisure and Business Travel Destination to European and Arabian Markets appeared first on European Gaming Industry News.

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Rossi McKee will Participate in Omnichannel Strategy Panel at SBC Summit 2024

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Rossi McKee, entrepreneur, co-founder of Telematic Interactive, CT Interactive and CT Gaming, will participate in the panel discussion at SBC Summit 2024 titled “Omnichannel Strategy for Enhanced Customer Experience”. The session will take place on Tuesday, September 24, 2024.

The discussion will address how businesses can leverage the latest technologies to ensure a seamless experience across online and offline platforms. McKee, alongside other panellists, will explore how lessons from online gaming, such as personalised marketing and advanced data analytics, can enhance land-based casino experiences. Panellists will also evaluate the current state of omnichannel implementation in the industry, considering whether businesses are fully capitalising on its potential to drive engagement and satisfaction.

Additionally, the conversation will cover how omnichannel strategies align with modern consumer expectations, aiming to provide a cohesive and exceptional customer experience.

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McKee’s extensive expertise in the gaming sector will provide valuable perspectives on navigating these complexities. Attendees can look forward to gaining actionable insights on creating a unified customer experience that bridges digital and physical touchpoints.

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Play’n GO Honoured at Corporate Star Awards Ceremony

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Play’n GO, the world’s leading casino entertainment provider, was honoured as a global leader in Environmental Social Governance (ESG) practices at the prestigious Corporate Star Awards held in Amsterdam. The company was the only iGaming company shortlisted at the ceremony, and was nominated for the Best ESG Report award, placing it among renowned organisations such as Globo, EVS and SONY Entertainment, who won the category overall.

The Corporate Star Awards are known for recognising excellence in corporate reporting and sustainability, and Play’n GO’s nomination for the Best ESG Report Award is testament to its commitment to transparency and responsible business practices.

Play’n GO’s ESG Report provides comprehensive insights into the company’s environmental initiatives, social impact and governance practices, and showcases Play’n GO’s commitment to reducing its carbon footprint, promoting diversity and inclusion, and maintaining high ethical standards throughout its operations.

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The Corporate Star Awards recognise organisations that go above and beyond in their commitment to ESG practices, setting a benchmark for corporate responsibility. Play’n GO’s inclusion among the shortlisted companies underscores its position as a global leader in the iGaming industry and its dedication to sustainable business practices.

Johan Törnqvist, CEO and co-founder of Play’n GO, said: “We are truly honoured to be recognized as a global ESG leader at the Corporate Star Awards. This nomination is a testament to our unwavering dedication to sustainability and responsible business practices. We believe that a strong ESG framework is essential for the long-term success of any organization, and we are proud to be at the forefront of this movement. We look forward to participating in next year’s awards, and to furthering our own ESG initiatives.”

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