888.com performing well

Online gambling company 888.com has revealed it has great optimism for 2008 after an encouraging start from its new sports betting and bingo offerings.

888 has recovered strongly after pulling out from the US after the introduction of the Unlawful Internet Gambling Enforcement Act (UIGEA) in October 2006.

Chief executive Gigi Levy told Reuters that 888 are operating at a pace of 20 per cent overall revenue growth for the year, but is hopeful of achieving more come the year end.

"Current run rate indicates 20 percent (overall revenue growth), and we are bullish on pushing this. Do I think 30 percent is too much? No, I don't think 30 is too much," Levy said.

Levy also revealed 888ladies.com (bingo) is exceeding all expectations and sport.888.com (sportsbetting) is also performing well.

"Bingo is doing dramatically above anything we expected. The run rate is currently where we expected to get to by the end of the year, it's that good. Sports was only launched a few weeks ago, and already last week we had hundreds of new sign-ups every day."

Total operating income rose by 38% to £217 million for 2007, with profits more than doubling from £22.2 million to £45.8 million.

Editor, Jackpot.co.uk - 2008-04-09 11:07:24

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