Online Gaming Operator Announces 6% Rise in Profits
8th April, 2009
888 holdings, the online gaming operator, announced its financial figures for last year this week, showing an increase in profits of 6 %.
The Gibraltar based company reported that earnings rose 23% for 2008 before tax, to $55.7 million with total operating income up 21%.
888 Holdings found that its casino offerings were a big contributor with revenues up 14%, although poker revenue fell 4%.
888 last week announced that it had separate divisions for, business to business and business to consumer activities, and that 2008’s results were down to this new line of business.
Dragonfish is the banner 888’s business to business operates under, and according to reports it signed up 14 white-label customers in 2008 including a partnership with Sportech. 888 also stated that the start of 2009 had seen 4 more businesses on top of the 14 bringing it a total of 25, including 7 customers from before 2008.
Gigi Levy, CEO at 888 said, “We believe that this successful model, offering both business-to-business and business-to-consumer businesses, is key to growth in the online gaming market in the coming years. Current trading to date in the first quarter of 2009 has been stronger than December with daily average revenues higher by more than five percent.”
By Rommon
