888 Holdings revenue increase thanks to casino games

The second-largest online gambling operator in the U.K., 888 Holdings Inc., reported increased casino revenues.

888 Holdings revenue increase thanks to casino games One of the biggest online gambling companies, 888 Holdings Inc., reported 55% revenue increase in the fourth quarter, thanks to more gamblers at the online casino. The company, which owns Casino-on-Net and Pacific Poker, reported sales of $62.8 million from $40.5 million a year earlier. Fourth-quarter sales from casino games increased 60% to $35 million, while poker revenue gained 16% to $21.4 million. Casino and poker sales per so-called active customer rose 26 percent to $270.

The 2007 was the first year 888 Holdings did no business with U.S. customers, after the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA). To stay liquid in the shrinking market, the gambling operator is adding sports betting to its portfolio, partnering with Rank Group Plc and introducing an online casino and betting on sports in Asia. The shares rose ½p to 132p as trading opened in London.

Published on 02/12/2008