Online betting firm posts loss after Vat charge

British online betting company 888 Holdings swung to a half-year loss because of charges for tax provisions in Germany and a financial penalty imposed by the UK Gambling Commission.

However, revenue rose 9% to $270m (€227m) in the six months to the end of June.

The group, which operates 888 casino, poker, sport and bingo brands, reported a loss before tax of $17.3m for the six months, reversing from a profit of $27.8m last year.