888 Holdings Turns in Favorable Numbers

The third quarter of 2008 has proven to be a profitable one for the Gibraltar based online casino group, 888 Holdings plc. Their online casinos have reported an increase of 23 percent in their revenue to a grand total of $66 million. This comes to the executives of 888 Holdings as a pleasant surprise because of the current declining global economy. Last years numbers in the third quarter did not report an increase from 2006 as they remained at $19 million. One of their online casinos, NRG, picked up some of the slack by reporting $34 million in revenue which was an 18 percent increase from the previous. NRG introduced a bingo section to their website which was the reason for the significant increase in revenue for the online casino.

The online casino group reported an increase in operating income fro the third quarter as well, $68 million made for a 24 percent increase. The operational team had big changes this year. They added a new online casino, Littlewoods, which is a new partnership with Sportech. Their online casinos have also had a lot of poker revenue increases in the last year. Pacific Poker was expanded to have a broader appeal in the global market and is now available in four new languages. New advertising also may have had a part to play in this well orchestrated revenue gain. The UK Bingo website launched a TV campaign which made them very successful in the United Kingdom. 888 Holdings also launched a new online casino in France and Germany, 888sport.

The online casino group is sure to have a great remainder of the year. The company’s Chief Executive Officer, Gigi Levy said: “Our underlying business remains as solid as ever, as demonstrated by the constant deposit size by local currency. Despite external adverse economic conditions we are confident in our business model and strategy. Our firm foundation of B2C earnings will be complemented by our growing B2B line of business which will be an increasingly large contributor over the medium term. We look forward to delivering growth this year and beyond."