TIDM888
RNS Number : 4698C
888 Holdings plc
13 June 2023
13 June 2023
888 Holdings Plc
("888" or "the Group")
Completion of Sale of Latvia Business
888 (LSE: 888), one of the world's leading betting and gaming
companies with internationally renowned brands including William
Hill, 888 and Mr Green, is pleased to announce that further to its
announcement on 22 May 2023, the Group has completed the sale of
its Latvian business to Paf Consulting Abp.
Lord Mendelsohn, Executive Chair of 888, commented:
"The sale of the Latvian business marks another positive step in
the execution of our integration programme. This sale generates
cash proceeds from a non-core market to support our deleveraging
plans, as well as enabling reinvestment into our core and growth
markets."
Enquiries and further information:
888 Holdings Plc +44(0) 800 029 3050
Lord Mendelsohn, Executive Chair
Yariv Dafna, Chief Financial Officer
Vaughan Lewis, Chief Strategy Officer
Investor Relations ir@888holdings.com
James Finney, Director of IR
Media 888@hudsonsandler.com
Hudson Sandler
Alex Brennan / Charlotte Cobb / Andy Richards +44(0) 207 796 4133
About 888 Holdings Plc:
888 Holdings plc (and together with its subsidiaries, "888" or
the "Group") is one of the world's leading betting and gaming
companies. The Group owns and operates internationally renowned
brands including William Hill, 888, and Mr Green. In addition, the
Group operates the SI Sportsbook and SI Casino brands in the US in
partnership with Authentic Brands Group.
Incorporated in Gibraltar, and headquartered and listed in
London, the Group operates from offices around the world and
employs over 11,000 people globally.
The Group's mission is to lead the gambling world in creating
the best betting and gaming experiences, bringing unrivalled
moments of excitement to people's day-to-day lives. It achieves
this by developing state-of-the-art technology and content-rich
products that provide fun, fair, and safe betting and gaming
entertainment to customers worldwide.
Find out more at:
http://corporate.888.com/
About Paf:
Paf is a Nordic gaming company founded on Åland in 1966 to
generate funds for the benefit of society. The founding
associations were The Red Cross, Save The Children, the public
health service and a children's welfare foundation.
Paf is an award-winning industry leader in responsible
gaming.
Paf (Ålands Penningautomatförening) is licensed and controlled
by the Government of Åland and holds online gambling licenses in
Sweden, Estonia, Latvia and Spain, as well as operating physical
gaming operations on more than 30 cruise ships in the Baltic and
the North Sea.
Paf has 330 employees representing 30 nationalities.
Find out more at:
https://aboutpaf.com/
Important Notices
This announcement may contain certain forward-looking
statements, beliefs or opinions, with respect to the financial
condition, results of operations and business of 888. These
statements, which contain the words "anticipate", "believe",
"intend", "estimate", "expect", "may", "will", "seek", "continue",
"aim", "target", "projected", "plan", "goal", "achieve", words of
similar meaning or other forward looking statements, reflect 888's
beliefs and expectations and are based on numerous assumptions
regarding 888's present and future business strategies and the
environment 888 will operate in and are subject to risks and
uncertainties that may cause actual results to differ materially.
No representation is made that any of these statements or forecasts
will come to pass or that any forecast results will be achieved.
Forward-looking statements involve inherent known and unknown
risks, uncertainties and contingencies because they relate to
events and depend on circumstances that may or may not occur in the
future and may cause the actual results, performance or
achievements of 888 to be materially different from those expressed
or implied by such forward looking statements. Many of these risks
and uncertainties relate to factors that are beyond 888's ability
to control or estimate precisely, such as future market conditions,
currency fluctuations, the behaviour of other market participants,
the actions of regulators and other factors such as 888's ability
to continue to obtain financing to meet its liquidity needs,
changes in the political, social and regulatory framework in which
888 operates or in economic or technological trends or conditions.
Past performance of 888 cannot be relied on as a guide to future
performance. As a result, you are cautioned not to place undue
reliance on such forward-looking statements. The list above is not
exhaustive and there are other factors that may cause 888's actual
results to differ materially from the forward-looking statements
contained in this announcement. Forward-looking statements speak
only as of their date and 888, its respective parent and subsidiary
undertakings, the subsidiary undertakings of such parent
undertakings, and any of such person's respective directors,
officers, employees, agents, affiliates or advisers expressly
disclaim any obligation to supplement, amend, update or revise any
of the forward-looking statements made herein, except where it
would be required to do so under applicable law. No statement in
this announcement is intended as a profit forecast or a profit
estimate and no statement in this announcement should be
interpreted to mean that the financial performance of 888 for the
current or future financial years would necessarily match or exceed
the historical published for 888.
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