888 Pens Lower Revenue Due to Tougher Gambling Regulations

888 Holdings PLC has announced a decrease in third-quarter earnings due to efforts to promote safer gambling in the UK and stricter regulation overseas. In the third quarter, revenue from the UK and online activities witnessed a 10% drop to £157.2 million, as revealed by 888 in a statement. The decline was influenced by unfavorable outcomes in September, notably in football. This decline is consistent with the overall 10% decrease in revenue for the entire group, which amounted to £405 million. As a result, the owner of William Hill supports the revised guidance set out at the end of September. Additionally, international revenue suffered a 19% decline, primarily due to significant changes in compliance regulations in the dotcom market, particularly in the Middle East.