888 Holdings Announces Cost-Saving Measures Following Sales Decline

New safer gambling rules in the UK impact revenue as company shares drop significantly.

888 Holdings, the international betting and gambling company, has announced a £30 million ($37 million) saving plan after an 8% decline in total sales across 2023.
The company plans to cut jobs and close its office in Bulgaria as part of its cost-saving measures.
New safer gambling rules in the UK have impacted the company's revenue, with customers spending less on average.
The company's shares have taken a significant hit, dropping by nearly 9%.
Despite the challenges, CEO Per Widerström remains positive about the company's outlook, with plans to outline a strategic plan for 2024-2026 in late March.