No further action after Gambling Commission concludes review of 888 licence

Updated:2024-03-30 08:03    Views:194

The Gambling Commission (GC) has finalised its review of the operating licences held by 888, a betting and gaming company known for brands such as William Hill, 888 and Mr Green.

The review, initiated under Section 116 of the Gambling Act 2005, concluded without imposing additional licence conditions, financial penalties or other remedies on the group.

According to the announcement made by 888 on 14 July 2023, the review aimed to assess the risk to the licensing objectives under the Gambling Act. The GC determined that the concerns prompting the review had been addressed and mitigated by 888 Holdings.

In March 2024, the company partnered with Wellness Cloud to provide support to its employees,Play Casino Online including those at William Hill, which it acquired. The Wellness Cloud platform offers resources and services aimed at promoting physical and mental well-being among employees.

Additionally, the company announced a strategic review of its US business operations, considering options such as the sale or partial sale of its B2C business in the region. This decision comes amid challenges posed by intense competition, high operating costs and lower profit margins in the US market.

The company's recent trading update for the three and twelve-month periods ending December 2023 revealed strategic accomplishments and financial insights. While facing a decline in revenue attributed to market transitions and regulatory changes, the company remains optimistic about its future prospects.

888 is currently trading at £0.88 per share ($1.11).

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