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DATE: May 26 2012
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Poker.co.uk - Poker News Archive

Tuesday 1st May 2007

A Positive First Quarter for 888

Those who invested on the back of 888.com�s plans for providing in-flight casino entertainment will be delighted to see that the full-year results show pre-tax profits up 34 percent. Net gaming revenues increased 7 percent to $289.9m, and the company ends the year with a balance sheet of $114.4m. First quarter results are also excellent, with net gaming revenues up 19 percent from last year, to $47m.

While the end of merger talks with Ladbrokes led to a slight drop in 888.com�s shares, the mood at 888.com has remained buoyant, as executive Gigi Levy told Reuters.

'We don't look at ourselves as anybody's lunch -- with that very fast Q1 growth, we should be growing ourselves and acquiring other companies.�

One of the secrets of 888.com�s success is its diversification. While other companies have suffered from the loss of US customers due to legislative change, 888.com has expanded, providing a wide range of games in a number of other countries.

Levy was particularly optimistic about Bingo. Last month it acquired Globalcom for $43m, with plans for rapid expansion, initially into Spain.

Levy added, 'Bingo is huge in central Europe and Latin America. There's huge growth opportunity that nobody's tapped yet -- Bingo will not stay in the UK.'

Source: OnlineCasinoNews

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