Wednesday preview: 888 Holdings reports first half interims

Online gaming group 888 Holdings is expected to report on Wednesday a drop in first half earnings in the wake of its rejected William Hill takeover proposal.

Numis predicts earnings before interest, tax, depreciation and amortisation (EBITDA) to fall 1% to $40.9m, reflecting the impact of additional gaming duties including new regulation. Revenue is forecast to rise 14% to $250m.

However, Numis said its revenue estimate implies a marginal slowdown in the second quarter, and reflects customer focus on football at the expense of casino.

The results come after William Hill rejected a takeover proposal from 888 and Rank Group earlier in August.

“However, this, together with the bwin.party bid shows management at 888 has high ambition,” said Numis analyst Richard Stuber.

“We forecast robust growth in FY16 with opportunities to reinvest, in sports and in developing geographical markets in particular, offset, on translation, by the strength of the US Dollar, 888 reporting currency.”

Wednesday 31 August

INTERIMS
Arrow Global Group, Avengardco Investments Public Ltd GDR, BBGI SICAV S.A. (DI), Biome Technologies, Brave Bison Group, Cathay International Holdings Ltd., Churchill China, Exova Group , Grafton Group Units, Gulf Marine Services, HSS Hire Group , Irish Continental Group Units, PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S), PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S), PPHE Hotel Group Ltd, Surgical Innovations Group, The Gym Group

INTERIM DIVIDEND PAYMENT DATE
Lancashire Holdings Limited, Man Group

QUARTERLY PAYMENT DATE
City of London Inv Trust, Picton Property Income Ltd

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Pending Homes Sales (US) (15:00)
Retail Sales (GER) (07:00)
Unemployment Rate (EU) (10:00)
Unemployment Rate (GER) (08:55)

Q2
Avengardco Investments Public Ltd GDR, HSS Hire Group , PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S), PJSC Centre For Cargo Container Traffic Transcontainer GDR (Reg S), The Gym Group

AGMS
Aberdeen New Dawn Investment Trust, Bahamas Petroleum Co, Iona Environmental VCT, Jupiter Green Inv Trust, Maven Income And Growth VCT 6 , Puma Vct 8

TRADING ANNOUNCEMENTS
Punch Taverns

UK ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (00:00)
GFK Consumer Confidence (00:05)
Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE
City of London Investment Trust 4.2% Non-Cum 2nd Prf Stk, Datang International Power Generation Co Ltd.