888 bracing for 10% Q3 revenue fall

888 has revealed that UK regulatory impacts are a key factor in its forecast for Q3 revenue to drop by around 10 per cent year-on-year.

The group said, however, that despite compliance changes in dotcom markets and a short-term impact from a change in marketing, it expects improved revenue in Q4 before group growth in 2024.

888 said its retail division continues to perform strongly with “broadly stable revenues.”

Lord Mendelsohn, executive chair of 888, said: “We are making significant strides to improve the quality and long-term sustainability of our revenues, but performance in Q3 has been below our expectations, and this means we now expect to end the year with EBITDA below our prior expectation.”

He added: “We are strongly focused on investing to deliver good levels of expected revenue growth in 2024 as we progress towards our clear target of more than £2bn of revenue in 2025 and I look forward to the coming years with confidence.”

888 explained that safer gambling changes in the UK are behind its Q3 struggles but added that strong growth in active customers is steering the group towards 2024 growth.