19-01-2021 888 Extends Strategic U.S. Partnership
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
(“888” Or the “Group”) Audited Annual Financial
12 March 2019 888 Holdings Public Limited Company (“888” or the “Group”) Audited annual financial results for the year ended 31 December 2018 Continued strategic progress and resilient financial performance resulting in record EBITDA 888, one of the world's most popular online gaming entertainment and solutions providers, announces its audited annual financial results for the year ended 31 December 2018 (“the period”). Financial Highlights • Group revenue1 decreased by 2% to US$529.9 million (2017: US$541.8 million) • Revenue from regulated and taxed markets continue to represent the significant majority of Group revenue at 70% (2017: 70%) • B2C Casino revenue increased by 8% to US$317.6 million (2017: US$293.9 million); B2C Casino revenue excluding UK increased by 17% • B2C Sport revenue increased by 6% to US$80.3 million (2017: US$75.5 million); B2C Sport revenue excluding UK increased by 18% • B2C Poker revenue decreased by 37% to US$49.0 million (2017: US$77.9 million) reflecting challenging competitive environment • B2C Bingo revenue decreased by 17% to US$32.4 million (2017: US$39.3 million) reflecting heightened regulatory scrutiny in the UK • Resolution of a legacy VAT matter in Germany and subsequent release of an exceptional provision of US$22.4 million • Adjusted EBITDA2 increased by 6% to US$107.1 million (2017: US$100.7 million); EBITDA for the period was US$129.1 million (2017: US$41.2 million) • Adjusted EBITDA margin increased by 160bp to 20.2% (2017: 18.6%); EBITDA margin increased to 24.4% (2017: 7.6%) • Adjusted Profit -
LEADERS in ONLINE GAMING Contents Introduction
888 Holdings plc Annual Report and Accounts 2019 2019 LEADERS IN ONLINE GAMING Contents Introduction STRATEGIC REPORT 01 Introduction 888 IS ONE OF 02 Our Marketplace 04 Our Business Model THE WORLD'S 06 Our Stakeholders 08 Chairman’s Statement MOST POPULAR 10 Chief Executive Officer’s Strategic Report 16 The Online Gaming Cycle ONLINE GAMING 18 888's B2C Proposition 20 Introducing Section8 Studio ENTERTAINMENT 21 888's Strategy and Progress 22 Chief Financial Officer's Report 32 Risk Management Strategy AND SOLUTIONS 42 Regulation and General Regulatory Developments PROVIDERS. 48 Viability Statement 50 Corporate Social Responsibility 888 Holdings plc (“888” or the “Company”) and its subsidiaries (together, the “Group”) operates leading GOVERNANCE online gaming brands across four key product verticals (Casino, Sport, Poker and Bingo) with a presence across 68 Board of Directors multiple regulated markets. 70 Directors’ Report 76 Corporate Governance Statement 888’S PURPOSE Driven to be one of the world’s best performing online 84 Statement by the Chairman of the gaming companies, 888 continues to strive to provide Remuneration Committee customers with a safe and enjoyable experience 86 Directors’ Remuneration Report underpinned by the Group’s unique technology and 103 Audit Committee Report industry expertise. By doing this effectively, 888 is able to succeed in the fast-growing and dynamic online FINANCIAL STATEMENTS gambling industry and generate value for its shareholders. 108 Independent Auditors’ Report 888’S FOCUS 117 Consolidated Income Statement 888’s primary strategic focus is on growing its strong 117 Consolidated Statement brands in sustainable markets where there are regulatory of Comprehensive Income frameworks that protect customers and provide clarity 118 Consolidated Balance Sheet for operators. -
A Year of Strong Growth
888 HOLDINGS PLC ANNUAL REPORT & ACCOUNTS 2020 A YEAR OF STRONG GROWTH 888 IS ONE OF THE WORLD’S LEADING ONLINE BETTING AND GAMING COMPANIES. 888 Holdings plc (“888” or the “Company”) and its subsidiaries (together, the “Group”) operate leading online gaming brands across four key product verticals (Casino, Sport, Poker and Bingo) with a presence across multiple regulated markets. 888’S MISSION 888’S FOCUS 888’s mission is to develop state-of-the-art technology and 888’s primary strategic focus is on growing its products that provide fun, fair and safe digital gambling strong brands in sustainable markets where there products to players globally. are regulatory frameworks that protect customers and provide clarity for operators. To achieve this, 888 leverages its proprietary technology to provide to players we focus on continuous investment in protecting and B2B partners an innovative and world-class online gambling our customers, relentless new product development experience. By doing this effectively, 888 is able to succeed in and effective marketing. the fast-growing and dynamic online gambling industry and generate value for its shareholders. OUR MARKETPLACE Estimated total global online gambling* market size * Figures reflect gross win (stakes less 2020* 2025* prizes, without deduction of bonuses) and include sports betting, casino, poker, US$ million US$ million bingo, skill games, other games and lotteries. Sports betting 36,508 60,704 Source: H2 Gambling Capital, February 2021 Casino 20,168 30,503 Poker 3719 3,914 Bingo 2,540 -
U.S. Internet Gambling Laws: an Update
Electronic Commerce & Law Report™ Reproduced with permission from Electronic Commerce & Law Report, 19 ECLR 917, 7/16/14. Copyright 2014 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com ONLINE GAMBLING The authors summarize the current state and federal frameworks governing online gam- ing and provide an update on recently introduced federal legislation. They conclude with compliance and best practices tips for companies operating in the online gaming space. U.S. Internet Gambling Laws: An Update BY MARCUS A. ASNER,CATHERINE BARNARD AND American state had legalized online gaming, Americans gambled nearly $3 billion at offshore casinos – almost IAN JAY 10% of the entire worldwide online gaming market. n February 25, 2014, Delaware and Nevada en- Freeman emphasized the need for a regulatory frame- tered into the country’s first multistate online work that would prevent illegal activity and ensure the O gambling compact, which will allow poker players integrity of games. in both states to wager against each other at the same Another witness, Professor Kurt Eggert of the Chap- virtual table. While the expansion of Internet gambling man University Dale E. Fowler School of Law, stressed is mostly occurring at the state level, the federal frame- the importance of a robust consumer protection work governing online gambling is also a shifting land- scheme, noting the increasing sophistication of auto- scape, as highlighted by the recent Congressional hear- mated poker bots – computer programs designed to ing on ‘‘The State of Online Gaming.’’ play automatically against other players, some of which The Congressional hearing included testimony from utilize sophisticated algorithms capable of beating the gaming industry leaders, social advocates, and academ- vast majority of casual players. -
888 Holdings Plc 19 January 2021
RNS Number : 0940M 888 Holdings plc 19 January 2021 19 January 2021 888 Holdings Plc ("888" or "the Group") 888 extends partnership with Caesars Interactive Entertainment 888, one of world's leading online gaming entertainment and solutions providers, is pleased to announce that it has agreed to a multi-year extension of its exclusive B2B poker partnership with Caesars Interactive Entertainment ("CIE"). The new agreement will see 888 continue to power the World Series of Poker ("WSOP") brand's online poker rooms as the company plans its entry into new regulated markets. WSOP is the world's most prestigious and longest-running poker series, which sees hundreds of thousands of entrants from across the globe compete for millions of dollars with live tournaments broadcast to an international audience. Through the partnership, 888 will continue to provide its turnkey poker platform and services to CIE in the U.S. including bringing the WSOP's online poker rooms to players' mobiles and desktops. The partnership will also see 888 continue to power the U.S. market's only interstate shared player liquidity poker network across the states of New Jersey, Delaware and Nevada, connecting an increasing number of poker players to enhance the availability of poker games and formats for its customers. The agreement will see the launch of "Poker 8", 888's next generation software, in the U.S. Poker 8, which successfully launched in Europe in November 2020, is a significant advancement in user experience including new graphics and animations while also including key features like multi-day and multi-flight tournaments. -
Virtue Poker Whitepaper a P2P Decentralized Poker Platform Built
Virtue Poker Whitepaper A P2P Decentralized Poker Platform Built Using Ethereum Draft Version 0.91 April 2018 This document is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in Virtue Poker or any related or associated company. Any such offer or solicitation will be made only by means of a confidential offering memorandum and in accordance with the terms of all applicable securities and other laws. This document is a draft, and provided only as a courtesy and to begin gathering industry and community feedback. This document is not to be considered final, and all information contained herein is subject to change without notice. To the extent that Virtue Poker someday in the future offers for sale any products or services, including any tokens, you must refer to and review any terms, conditions and disclosures in effect at that time, including any updated versions of this white paper. Table of Contents Table of Contents 1. Abstract 1.1 Value Propositions 1.1.1 Eliminate Player Deposit Risk 1.1.2 Solve the Lingering Trust Issue regarding Gameplay Fairness 1.1.3 Reduce Player Costs and Create a Balanced Poker Ecosystem 1.1.4 Build out an Extensible Decentralized Poker Network 1.2 Short-Term Objective 1.3 Long-Term Growth Strategy 2. Problems with Online Poker 2.1 Introduction 2.2 Misuse of Player Funds 2.2.1 Absolute Bet and Ultimate Bet 2.2.2 Full Tilt Poker 2.2.3 Lock Poker 2.3 Poker Bots 2.4 Third-Party Tools and Software 2.5 Unequal Rake 2.6 The Broken Poker Economy 2.6.2 The Problem 2.7 Global Market Fragmentation 2.7.1 Black Markets 2.7.2 Dark Grey Markets 2.7.3 Grey Markets 2.8 Types of Operators 2.8.1 Onshore Operators 2.8.2 Offshore Operators 2.9 Limited Competition 2.9.1 Regulated B2C Market 2.9.2 Unregulated B2C Market 2.10 Random Number Generator Certification Practices 2.11 Conclusion 3.