Casinos.co.uk: Casino News Archive
Tuesday 19th February 2008
888 Holding’s Revenues Rise
Online gaming company 888 Holdings has announced a rise of 55 percent in fourth quarter revenues thanks to a sharp increase in the number of female gamers.
In addition, the Gibraltar-based firm stated that its new bingo service at 888ladies.com offering game tutorials and chat tools is seeing 'hundreds of new customers' sign up every day.
Revenues climbed to $62.8 million from $40.5 million a year earlier and $53.4 million for the previous three months while casino and poker sales per each active customer rose 26 percent to $270. 888 Holdings also reported that fourth quarter sales from casino games increased 60 percent to $35 million with poker revenues rising 16 per cent to $21.4 million the first quarter of this year. Finally, the firm stated that 2008 had started strongly with a rise of 17 percent in new daily casino and poker players.
'This is a transformational year,” said Gigi Levy, Chief Executive for 888 Holdings.
“These are very good results that we think show our strategy is delivering.'
This is 888 Holding's first full year of trading without any dealings in the United States following the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) barring foreign online betting sites and has seen the company explore new income streams to cover the loss of revenues.
The company has also launched the World Poker Crown, a poker tournament with a three million dollar guaranteed prize, handicapped sport betting for Asia, LuckyAcePoker.com and WinkBingo.com.
Source:OnlineCasinoNews
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