888 Holdings Reports Gaming Revenues Up

Tuesday February 12, 2008

Internet gaming firm 888 Holdings Plc reported a 36% rise in net gaming revenues in its first full year without any business in the US.

The operator of Paradise Poker took 213 million US dollars in the year to December 31, with its casino games winning 22% more in the company's fourth quarter, compared to its third.

The firm, which was hit by the US internet gaming ban in 2006, added its new 888Ladies bingo brand had started well.

The group lost more than half its revenues because of the US withdrawal, but has recovered ground through the launch of new casino and poker sites, partnering agreements and expansion in areas such as Latin America.

Gibraltar-based 888 Holdings Plc, which also operates the 888 Casino On Net brand, said gaming revenues from casino were up 33% on a year earlier while the figure from poker was 18% higher.

Chief executive Gigi Levy said "We are delighted with our results released today, our first full year of trading without any business in the US."

The company said 888Ladies - the new online bingo site - had attracted hundreds of new customers on a daily basis since its launch earlier this month.