888 Holdings released their 2104 full year financial results yesterday. Management and shareholders have plenty of cause to be popping the champagne corks.
Players not so much.
It was a record result. Revenues were up 14% on 2013 to $455 million. Profit before tax increased by 28% to $68 million with much of the increase driven by growth in their core product…casino.
The board is sharing the booty with shareholders, declaring a special dividend of 7 cents per share.
No indication that they are likely to share any of it with players by way of a special rebate or the like. Wishful thinking I guess.
Speaking of players, the number of real money registered customers across the group increased 15% for the year to a whopping 17.9 million. That’s roughly equivalent to the entire adult population of Australia!
Things are likely be tougher in 2015 and beyond with the UK POC tax taking effect. CEO Brian Mattingley has conceded he expects margins will contract in the medium term but he also expects the POC tax to take a bigger toll on smaller operators, thereby,
“presenting opportunities to industry leaders such as 888”