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Online betting company 888 reported a rise in the third-quarter revenue as strength in its gaming division offset a decline in betting activity.
For the three months ended 30 September 2021, revenue was up 7% to $229.9 million year-on-year.
'Strong performance in B2C gaming was led by casino; B2C betting declined against a very strong outcome in Q3 2020 when the group benefitted from the condensed calendar of sporting events following Covid-related disruption,' the company said.
Looking ahead, the company said it remained confident of meeting its expectations, but flagged $10 million hit from its decision to cease operations in the Netherlands following policy changes published by the Dutch Gambling Authority.
'The timing of any licence award within the Netherlands remains unclear, but the group aims to be operational within the country during the second half of 2022,' the the company said.
'This temporary closure is expected to negatively impact 2022 EBITDA, post certain mitigations at Group level, by approximately $10 million, with no change in the Group's expectations for 2023 and beyond,' it added.