Most of the major public companies around the world are listed on the stock market and there is no exception when it comes to the fast-growing world of online casino. Many of the major online gambling companies such as 888Holdings can be found there and in the case of 888casino this is proving to be a strong strategy. The company’s holdings suffered a dip around ten years ago, but since then their performance has been so healthy that it appears set to break all previous records in terms of price.
The company is listed on the London stock exchange under the name 888 Holdings, which is the umbrella vehicle for the various 888 gaming brands. Many people may not know but 888holdings provide both B2B (12% of their total revenues) and B2C (88%) products and services with many well-known online brands such as their flagship online casino website which is also their biggest money maker 888casino with about 60% of all 888 B2C revenues. 888 Holdings was also founded exactly 20 years ago this year. The company is currently one of the most successful such firms globally and has been enjoying an impressive rise in its market value and share price, but first it had to recover from a drop just over a decade ago. Back in 2006, the 888 Holdings share price fell 6 percent during the second quarter of that year, having already suffered a dip earlier in that year. At the time this was attributed to the after-effects of the BetonSports issue that was major news at the time, coupled with second financial quarter slowdown that was standard for the online gambling industry and the effects of that year’s World Cup. With the latter issue in mind, the 888 Holdings Chief Executive, Itai Frieberger, expressed the desire to expand the company’s interest to sports betting. This plan was one that the company pursued and the news for its share price has been spectacularly positive in the decade since that drop.
Just looking at the period from 2012 to the present, the company has been enjoying steady revenue growth, with this standing at approximately £375 million in 2012 and around £425 million by 2015. Among those in the know, 888 Holdings’ overall market value is expected to reach £757.84 million, with the share price for the company hitting £2.25 by the time the stock market closed on the 18th of January this year. A key point in this price beginning to rise came in 2014, when news broke that it had hit 125p per share – marking a rise of close to four percent on the previous price. By the second half of 2016, the price target for stock in 888 Holdings had hit GBP 225.00p, which subsequently rose to GBP 255.00p by 01/09/2016. The price target had dipped slightly to GBP 240.00p by the 2nd November last year, before hitting another peak of GBP 265.00 on the 10th of that month. Such was the growth in the share price that a research report published at the beginning of this year saw Peel Hunt upgrade its stock to ‘buy’ – at which time the price target was GBP 260.00p. These positive reports were echoed by other equities analyst firms, including Numis Securities and Canaccord Genuity.
This record rise in the price of 888 Holdings stock is great news for those who own it and is also evidence of the efforts taken by the company to improve its gambling sites.