Half Year 2022 888 Holdings PLC Earnings Call Transcript
Good afternoon, everyone, and thanks for joining us today for 888's 2022 interim results presentation. I'm joined by Yariv Dafna, our CFO, who's in our London office.
Starting with the agenda on Slide 3. I'll run through some highlights and then hand over to Yariv to discuss financials. I will then provide an overview of our strategic progress during the first half before concluding and opening up for some questions.
So turning to Slide 4 and getting into the highlights from the period. On a pro forma basis, as if we had been an enlarged business for both periods, revenues were broadly stable and in line with guidance we gave in June. And adjusted EBITDA was GBP 142 million. Strong growth in retail revenues was offset by online revenues being down just over 20%.
The decline in online revenues is mainly due to lower online revenues in the U.K., where we've implemented a series of safer gambling and affordability measures on players' accounts. While this causes campaign to our financials in the short term, it puts us
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