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Online Casino Group Reports Profit Increase

888.com sees 37 percent growth in third quarter helped by bingo and backgammon

Wednesday 31st October 2007



Online gambling group 888.com has announced that its net gaming revenues for the third quarter rose by 37 percent to $52.5 million from last year’s published figure of $38.3 million.

The Gibraltar-licensed company said that it has had strong trading into the fourth quarter with the launch of 888.it, an Italian targeted sportsbook, and a major television advertising initiative. It reported that daily casino and poker revenues have climbed 11 percent this month, a good indication for the coming fourth quarter.

“We are very pleased with our results released today, which were achieved in what is typically the slowest quarter of the year,' said Gigi Levy, Chief Executive Officer for 888.com. 'With the continued roll-out of innovative product offering and our expansion in new geographic markets, we are confident about our performance in 2007 and beyond.”

888.com said that revenues rose from nothing for bingo and backgammon to $4.9 million while casino and poker income rose 24 percent to $47.6 million compared to $38.3 million last year. It also revealed that average per capita spend by active members on the company's books rose 6 percent to $227 during the quarter.

“Net gaming revenue in the third quarter climbed five per cent higher than in the second quarter with September being our best month since we withdrew from the US,' Levy added.

'This record month has been exceeded in October with growing momentum following the launch of our television advertising campaign.'

 


Source: OnlineCasinoNews