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NEWS: Bookmaker 888 sees higher 2023 profit despite £19M AML fine

GAMBLING: THE CEO of gambling company 888 Holdings is to stepping down over AML and KYC failings at the UK firm.

By Muhammed Husain

888 Holdings Plc’s shares shot up over 18% after the British bookmaker forecast higher adjusted core profit for 2023 and said it expects to partially recover revenues lost due to its suspension of VIP activities in the Middle East.

Gibraltar-headquartered 888 also said it is cutting costs and focusing on core and growth markets, adding that it has concluded an internal investigation that was launched to probe failure to follow some compliance processes in the Middle East.

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