In a move which is probably against the trend in the US, UK based internet gambling company 888 has announced an increase in operating income for the second quarter of 2008. The company saw overall income rise to $69 million from $51 million for the corresponding period last year. The move seems to have been fired by increased interest in the core casino division which saw revenues rise nearly 30% to $35 million.
Interestingly the group’s diversion into the fields of sports betting and bingo is also starting to bear fruit with the combined income from these operations rising from $2 million to $12 million. The Poker division was the more disappointing operation with revenues flat at $20 million as many players seemingly chose to watch the European Football Championships rather than player poker online.
While the company’s shares were down slightly with concerns for the immediate future and a possible fall in income, the group seems to be firmly focused on the future. 888 has announced that acquisitions are highly likely in the short term as the group sees fit to take advantage of the weakened position of some competitors and instigate bolt on acquisitions for the future.
In a move which is probably against the trend in the US, UK based internet gambling company 888 has announced an increase in operating income for the second quarter of 2008. The company saw overall income rise to $69 million from $51 million for the corresponding period last year. The move seems to have been fired by increased interest in the core casino division which saw revenues rise nearly 30% to $35 million.