888 sports betting site soon, casino revenues up

Gigi Levy, CEO for the online poker and casino company 888, has confirmed that his company will release their new sports betting website later this month.

"We are going to soft launch it (sports betting) next week and it's going to be widely available this month," Levy said in an interview with Reuters.

The website will be launched in six countries, including the UK and Spain.

However, 888 will have to keep in mind that it has been historically hard for gaming companies to make a success of sportbooks.

But they certainly know how to run a poker and casino website after news that fourth quarter revenues for last year were up by an impressive 55%. The increase was put down to an increase in the number of female gamblers – buoyed by its new bingo service 888ladies.com.

Fourth quarter sales from casino games rose by 60% to $35 million, while poker sales grew by 16% to $21.4 million.

888 are still on the look out for any potential acquisition targets to continue their impressive consolidation following their withdrawal from the US market after the crackdown on internet gambling.

"We have got another white label (software provision) deal lined up that we will announce probably in the coming month or two and we are looking at a few acquisition targets,” Levy said.

"We would consider poker acquisitions but unfortunately there's not a lot of good things to buy out there at the moment."

Editor, Jackpot.co.uk - 2008-02-12 12:01:48

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