Those exceptional charges included a US$45.3 million hit in respect to potential value-added tax relating to the provision of gaming services in Germany prior to 2015. 888 also noted that one of its subsidiaries has been the subject of a German court ruling, which includes general findings upholding the prohibition on offering online gaming, causing it to assess "the status and breadth" of its offerings in the country.
The company said its revenue increased 4% to US$541.8 million, while EBITDA grew 12% to US$100.7 million, up 19% on a constant-currency basis.
"The group's growth was driven by further expansion in casino, sport and across regulated markets. This very robust outcome was achieved despite the group's withdrawal from certain markets during the year and demonstrates 888's resilience and Agility," commented firm’s Chief Executive, Itai Frieberger.
Source: GMB / Market Watch
