888 Holdings PLC (LSE:888) confirmed trading has remained consistent with the update given in January ahead of the release of full-year numbers on 14 April 2023.
The owner of William Hill and Mr Green forecast revenue of £1.85bn, adjusted EBITDA of around £310mln and is confident with current market expectations for adjusted EBITDA for financial year 2023.
Shares in the gambling firm dropped sharply at the end of January following news 888 had suspended VIP activities in some of its .com markets pending the outcome of an internal compliance investigation and, separately, announced the departure of Itai Pazner, its chief executive officer (CEO) and executive director.
The company said that, following the review, it had come to light that certain best practices have not been followed in regard to Know Your Client and Anti-Money Laundering processes for 888 VIP customers in the Middle East region.
“While further internal investigations are underway, the board has taken the decision to suspend VIP customer accounts in the region, effective immediately” the company said in a brief statement.