The digital gaming firm, 888, is withdrawing from the American market completely. They are offloading their US-facing branch to Hard Rock Digital, probably before the close of 2024.

This choice follows a thorough review of their US activities by 888. It echoes a comparable action taken by Kindred Group, another major entity in the internet gaming industry. Nevertheless, 888’s chief executive hasn’t dismissed a potential comeback to the US at some point down the line.

To prepare for this divestiture, 888 has already commenced scaling back their remaining US operations. Their goal is to be entirely absent from the US market by the end of 2024, subject to regulatory green lights.

This departure is not anticipated to negatively impact 888’s profitability. In actuality, they foresee yearly savings of roughly £25 million (approximately $31.5 million) beginning in 2025. A substantial portion of that will be redirected towards fresh expansion prospects.

Although there will be certain expenses linked to exiting the US, these were previously accounted for in the financial objectives 888 declared earlier this year.

After publishing its fiscal year 2023 financial statement, revealing revenues hitting £17.1 billion, 888 Holdings unveiled a range of strategic actions. This revenue spike was significantly driven by the prosperous acquisition of William Hill earlier that year. Despite the revenue increase (prior to adjustments), the organization experienced a 25% reduction in its adjusted profit after tax, settling at £48.1 million. Significantly, 888 also faced examination from the Gambling Commission concerning its operational permit but ultimately avoided any sanctions.