888 Board approves total dividend payment of 15.5 cents per share
The board of directors of 888 has approved a total dividend payment of 15.5 cents per share for the year 2017.
As one of the world’s most popular online gaming platform and solutions provider, 888’s management came to this decision when they submitted their audited annual financial results ending December 31, 2017.
The proposed dividend per share will however be ratified at the Annual General Meeting of the company coming up on May 9, 2018. It is expected a payment date of May 11, 2018 will be decided upon. Those who do not desire to receive their dividents may elect to reinvest them again for increased share holdings.
888 recorded successes in gaming compliance, growth and technology
Brian Mattingley, chairman of 888 told stakeholders that the company’s performance in 2017 was underpinned by several developments. Many of these were in line with 888’s strategic objectives for regulated territories as well as diversification into newer markets. Coupled with these are the company’s proprietary technology which was created to help the group achieve its objectives without fail. Mattingley said the group also produced veritable tools and processes that enable customers to experience wholesome gaming within controlled environments.
“The global online gaming market is fast-growing and dynamic with regulation continuing to play a major role in shaping the future direction of our industry,” Mattingley said about 888’s outlook for the new year.
“The Board continues to believe that as an agile, multi-product and multi-market operator that owns its own technology, 888 is very well positioned to deliver further growth.”
CEO Itai Frieberger disclosed that 888 had unparelled success in maintaining strategic focus in three main areas:
- Responsible gaming and compliance
- Sustained growth in regulated markets
- Leadership in technology and sports betting
He added the group had considerable expansion in the UK, and also made strategic decisions to leave certain markets.
“888 enjoys a unique position in the global online gaming industry and I firmly believe we ended 2017 in a stronger position than ever before,” Frieberger said.
“We have a truly diversified presence across product verticals and geographies, a first-class and scalable technology platform and an outstanding, talented team.”
888’s revenue increase is made possible by analytical marketing and cost control
Frieberger went on to reveal that 888 has an arsenal of highly trained and experienced business analytics and data-mining professionals. He said these personnel drive the company’s value and resources to regulate the group’s responsible gaming policies. The robust data generated and statistical models applied help the company control situations in any online gaming cycle. Some of these technical know-how are applied to:
- Customer relationship management
- Gaming revenue
CFO Aviad Kobrine presented the 2017 busines and financial review. He explained: “888’s continued increase in revenue was achieved by leveraging its analytical marketing expertise while maintaining effective cost control.”
Kobrine revealed that 888 generated revenue through B2C and B2B business models. A total of $486.5 million was realized from B2C businesses and $55.2 generated from B2B businesses. B2C consists of games such as: