Business
Trading update
Trading update.
About this update from Evoke Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n 23 June 2022\n \n \n \n \n 888 Holdings Plc\n \n \n \n \n (the \"Company\" and, together with its subsidiaries, \"888\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n Trading update\n \n \n \n 888 (LSE: 888), one of the world's leading online betting and gaming companies, today announces a current trading update and provides further detail on its financial performance for the twelve months ended February 2022.\n \n \n \n Financial performance for the twelve months to February 2022\n \n \n \n In connection with its proposed intention to market senior secured indebtedness through 888 Acquisitions Limited, a wholly-owned subsidiary of the Company, announced separately today, the Group has issued updated pro forma financial information for the twelve months to February 2022 as part of the offering memorandum.\n \n \n 888 generated revenue of\n £\n 690 million and Adjusted EBITDA of £109 million for the twelve months ending 28 February 2022. The international (non-US) business of William Hill (\"William Hill\") generated revenue of\n £\n 1,3661 million and Adjusted EBITDA of £2381 million for the 52 weeks ending 22 February 2022.\n \n \n The performance of both businesses largely reflects a continuation of the trends outlined in the Prospectus dated 29 April 2022, with the positive impact of retail reopening and strong performances across a number of regulated countries being offset by the closure of the Netherlands and the impact of additional safer gambling measures within the UK Online segments of both businesses.\n \n \n \n Current trading and outlook\n \n \n \n 888 currently expects to report revenue of between £330-335 million for the six months ended 30 June 2022. This result is broadly in line with board expectations, with growth in certain European markets offset by the impact of additional safer gambling measures as well as the temporary exit from the Netherlands.\n \n \n William Hill\n revenue for the 26 weeks ended 28 June 2022 is currently expected to be between £620-630 million. This performance reflects the re-opening of retail operations, offset by the impact of increased safer gambling measures in UK Online, and certain market adjustments or exits within International Online such a...