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888 Holdings recommends special dividend as profits soar

Last updated: 04:12 25 Mar 2014 EDT, First published: 05:12 25 Mar 2014 EDT

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888 Holdings (LON:888) is to pay a special dividend after a strong performance from the online gambling group’s casino and poker brands.

The group will pay a final dividend of 4 cents a share, slightly less than the previous year, though it is recommending a one-off dividend of 7 cents a share, bringing the total dividend to 14 cents, up from 9 cents the year before.

Revenues rose 7% to US$401mln in 2013, giving pre-tax profits a 30% boost to US$53mln.

At the end of the year, the company had 15.5mln customers – an increase of 19% on the previous year.

The group was helped by looser regulations in the US where it launched its online poker and casino brands.

The World Series of Poker (WSOP) launched in Nevada – home to gambling mecca Las Vegas – in September last year – one of the states that relaxed online gambling laws. 888casino and 888poker meanwhile launched in New Jersey.

Chief executive Brian Mattingley said: “2013 was a very busy but also exceptionally rewarding year for 888. 

“I am delighted to report that we have delivered record-breaking revenue and increased our profitability, driven by our strong brands, exceptional platforms and best-in-class marketing systems.”

The shares jumped 8% to 146p on the news.


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