Casinos.co.uk: Casino News Archive
Tuesday 14th November 2006
888 Reports Non US Growth
Online casino operator 888 Holdings PLC has reported a 20 percent growth in net gaming revenue from its non-US facing business in its third-quarter results.
The company also reported that it expects to incur a one-off expense of about $6million in the second half due to restructuring and suspension of its real money services to US-based customers following the introduction of the Unlawful Internet Gambling Enforcement Act.
The company posted net gaming revenue of $38 million against $32 million in the previous period, with a 5 percent increase in its active non-US members from the previous year at 179,439.
However the company admitted that although it has seen no negative impact on its non-US casino or poker revenues it remained difficult to forecast the longer term impact of the reduced business volume.
888 said it plans a modest reduction in marketing and R&D across the group as it faces a new business environment and re-deploys and re-focuses on non-US markets, although it did not specify whether the measures will include job cuts.
Source:OnlineCasinoNews
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