888 Holdings is already getting strategically prepared to overcome any negative impact that they might face post-Brexit. The company has obtained a current gambling license in Malta and to which many analysts and experts are looking at as a part of 888 Holding’s strategic planning, to counter the challenges that are associated with Brexit.
In a recent financial report presented by 888, they have managed to secure, but their overall revenue has declined. While the profits before taxes increased to 108.7 million US dollars (£83.2 million) in 2018 against 18.8 million dollars (£14.4 million) the previous year, the revenues shrank from 540.6 million dollars (£414 million) from 541.8 million dollars (£414.9 million). The reason cited for a decline in revenue is stricter regulation and increased taxes.However, 888 is not the only company as UK gambling giant GVC has also been facing challenges in their domestic reatail business.
In what seems like a preparation for the future, to make sure the company’s business in Europe doesn’t suffer from Brexit, 888 has also set up a server in Ireland. In regards to recent developments, the company has already explained that they are making drastic changes and are all geared up to combat the adverse regulations which can hamper their business as Britain ceases to be a part of the European Union in a very near future.
In the words of Chief executive Itai Pazner -“The group achieved continued growth across several regulated markets, primarily in continental Europe, underpinned by good momentum in casino and sport.”
Further commenting on the company’s financial health, he added: “The positive momentum at the end of 2018 has continued into the first quarter of 2019 with average daily revenue in 2019 to date up 10% compared to the fourth quarter of 2018, reflecting improvements across major KPIs (key performance indicators).”
“In the UK, we are encouraged by the improving trends we began to witness in the latter stages of 2018, and the board is pleased to report that these have continued during the first quarter of the current financial year.”