Canada-friendly 888 Casino Ponders Location Change
Award-winning casino operator, 888 Casino is considered one of the most reputable names in the industry.
888 Casino on the Move?
888 Casino offers unique experience to online players around the globe and in Canada as well, whereas the latest news regarding this Gibraltar-based company also deals with geography.
Namely, 888 Holdings considers relocating the headquarters from Gibraltar to Malta in a move that could be influenced by potential negative impact by the UK’s exit from the European Union.
As the future of Gibraltar remains in balance after ‘Brexit’ despite United Kingdom’s promises that it will guard the island, 888 Holding want to protect their own asset and could move to another Europe’s favourite gambling hub.
“If 888 were to remain registered, licensed and operating in Gibraltar in these circumstances, its ability to rely on EU freedom of services/establishment principles in supplying its services within the EU will be limited.”, 888 said in its annual report.
Company’s Bright Future
The company is coming off from a highly successful year in financial terms and 888’s priority is to sustain successful operation which saw the Casino record a significant revenue boost during the 12 months in 2016, to 31 December of the same year.
The ‘fantastic’ year saw both revenues and profits rise thanks to the company’s growing casino and sports business.
Revenues for 2016 rose to record-breaking $520.8 million which is 13% up in relation to $462.1 million in 2015. Adjusted earnings before interest, tax, depreciation and amortisation went up by 12% to $90.2 million, whereas the B2C revenue soared 15% to $460.2 million.
When it comes to casino revenue, the increase of 21% was recorded amounting to $279.3 million.
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