888 Casino On the Up

Over the last year the online gaming companies which had a major focus on the US have seen their profits hit badly but like all good businesses such issues are usually a test and those that respond well become much stronger and one such organisation 888, the Gibraltar-based online gambling firm, has posted an excellent set of results for the first six months of the year.

The group which have a very good presence in the UK market saw pre-tax profits almost triple to $19m, on net gaming revenues of $97m, up 24pc.

Following the problems in teh US they let go a quarter of their workforce in October 2006 after the new US legislation as the US accounted for more than half of 888’s revenue.

New measures to impove its revenue and profits stream has seen it refocus its operations by embarking upon a number of measures in teaming up with Rileys Snooker Halls in the UK and Tower Torneos in Latin America, they have also entered into sports betting after obtaining an Italian licence, with plans to extend to other regions in the future.

888 operates in 12 languages, aiming to grow in multiple markets simultaneously. It has launched a new game each month and has recently successfully introduced new 3D poker software.

888 plan to pay first half dividends of 1.8p per share, compared to 4.5p per share for the same period last year, before the legislation hit its American business.

Looking ahead, the company will focus on growth through new game introductions and a new European advertising campaign later this year.

Source: Telegraph