888, a popular online gaming entertainment and solutions providers, announces that its board of directors has recommended the payment of a final dividend comprising 3.0 cents per share.
Together with the interim dividend paid in October 2019, this totals 6.0 cents per share for the year.
Subject to shareholder approval of the final dividend at the Annual General Meeting, to be held on 20 May 2020, the board of directors has approved a record date of 24 April 2020 and a payment date of 22 May 2020. The shares will be quoted ex-dividend on 23 April 2020.
Holders of shares may elect to reinvest their final dividend. The latest election date is 24 April 2020.
Other financial highlights include:
Group revenue increased 6% to a Group record US$560.3 million (2018: US$529.91 million); at constant currency revenue increased 10%
Revenue from regulated and taxed markets represented a record level of Group revenue at 74% (2018: 70%) with revenue from regulated markets increasing 22% at constant currency
B2C Casino revenue increased 13% to US$359.3 million (2018: US$317.6 million); at constant currency B2C Casino revenue increased 17%
B2C Sport revenue increased 12% to US$90.0 million (2018: US$80.3 million); at constant currency B2C Sport revenue increased 19%
B2C Poker revenue decreased 13% to US$42.7 million (2018: US$49.0 million) reflecting the challenging competitive environment, however revenue trend has stabilised as of mid-2018 driving H2 2019 to be 7% higher year on year
B2C Bingo revenue increased 19% to US$38.5 million reflecting the contribution of newly acquired Bingo brands (2018: US$32.4 million); at constant currency B2C Bingo increased 24%; pro-forma B2C Bingo revenue decreased 3%
Adjusted EBITDA2 of US$85.6 million (2018: US$107.1 million) impacted mainly by US$25.6 million of additional gaming duties in part reflecting the Group's growth in regulated markets and FX headwinds; EBITDA was US$84.2 million (2018: US$129.1 million)
Adjusted EBITDA margin of 15.3% (2018: 20.2%); EBITDA margin of 15.0% (2018: 24.4%)
Adjusted Profit before tax of US$53.2 million (2018: US$86.7 million); Profit before tax of US$45.3 million (2018: US$108.7 million)
Adjusted basic earnings per share of 13.5¢ (2018: 20.2¢); basic earnings per share of 11.3¢ (2018: 26.3¢)
The Group continues to have a strong balance sheet with cash and cash equivalents of $99.5m at the Period end (2018: $133 million)