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Poker.co.uk - Poker News Archive

Thursday 11th May 2006

888 Reports Positive Financial Start to 2006

Internet gaming group 888 has announced a good start to 2006, with first-quarter net revenues up 42 percent year-on-year.

Net gaming revenue rose to $84 million (45 million pounds) in the three months to March 31.

Poker revenues were a major contributory factor to this success. Revenue increased 95 percent year-on-year to $39 million, while casino revenues rose 15 percent to $45 million.

An 888 spokesperson, speaking ahead of their annual general meeting said, �888 had a positive start to the current year, with an improvement in net margins.

�Growth in the U.S. continues, yet we are growing faster out of the U.S., gradually reducing our dependence on the territory in line with the company's long term strategy.�

In the first quarter, 888's revenue per active casino player was $554, up 32 percent on the fourth quarter of 2005. First-quarter revenue per active poker player was $162, up 4 percent on the fourth quarter of 2005.

888 shares closed at 234-1/2 pence on Tuesday, valuing the group at around 790 million pounds.

Source: OnlineCasinoNews

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