888 annual income Increases
5th February, 2009
888 is one of the UK's leading online gambling firms offering players poker, casino, sports betting and bingo games. The site attracts hundreds of players on a daily basis, who enjoy the benefits of safe, secure and enjoyable online gaming.
The site has recently announced it's financial results for last year, showing a 21 % increase in overall income. Even though income in the 4th quarter fell by 8 %, annual results were still impressive.
Annual revenue was up from $217 million in 2007 to $263 million in 2008.
Chief Executive of 888, Gigi Levy, said in a statement "Unprecedented challenging trading conditions following the end of the summer holiday season ... In Q4 players played less, and we recognized lower revenue denominated in U.S. dollars,"
The brand's poker site struggled throughout 2008 with sales falling 6%. The economic downturn clearly affected 888's 4th quarter results as casino and poker sales fell 19% and 25 %.
In spite of this, overall 888 had a excellent 2008 seeing substantial growth in several sectors of the company. Shares prices have also increased by 15% in the past three months and the company still remains the second largest online gaming brand in the UK market.
By Jamie
