Chief executive officer Itai Frieberger puts 888’s difficult year in perspective and explains why he has high hopes for the year ahead.
During 2017, 888 withdrew from Australia, the Czech Republic, Poland, Slovenia and Slovakia. It placed its German operation under review after it lost a court case appealing an attempt to ban 888 from the state of Baden-Württemberg.
Furthermore, net profit took a pounding after management put aside $45.3m in case it is forced to pay a VAT bill for services provided to German customers before 2015. It all begs the questions: are unregulated markets worth the trouble?