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888 Holdings Looking To The Future

Sunday 31st August 2008

News that 888 Holdings Plc, one of the largest poker companies in the UK, has seen profits jump by 40% in the first 6 months of the group’s fiscal year has brought the attention back onto the industry in the UK. It seems that a mixture of bingo and backgammon has attracted a record number of users and also seen poker turnover grow by more than 2%. So what next?

Net income for the period came in at just under $19 million against $13.5 million for the same period last year although a jump of 36% in gross gaming income to some $131.5 million bodes very well for the future. After a difficult period, due in the main to the demise of the US online market, it seems as though the UK market has come to the rescue. Profits are up, the dividend has been increased and while the shares succumbed to a little profit taking after a recent run, the future looks good for one of the UK’s leading online gaming groups. Can the rest follow?

The next few weeks will see more results from the industry and hopefully more confirmation that the UK online gaming sector is going through something of a revival. Time will tell......

Source: News

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