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POSITIVE CASINO AND BINGO ACTION IN Q.2 RESULTS FROM 888

Quarter 2 revenues at 888.com were boosted by casino and other games offerings, according to a statement from the Gibraltar-based online gambling giant this week.
 
Key performance indicators include a 36 percent increase in total operating income to US$69 million (Q2 2007 $51 million), and net gaming revenues up 33 percent to US$67 million (Q2 2007: US$50 million).
 
Online casino action was an important contributor to group results, with NGR climbing 27 percent to US$35 million, whilst net gaming revenues from bingo and other emerging offerings rose a whopping 376 percent to US$12 million. The groups poker results from Pacific Poker were less salubrious, with a 10 percent fall in revenues from Q1 that management attributed to players spending more time weatching the Euro 2008 international football action on television. NGR from the group's poker arm was US$20 million.
 
The company boasts 169 898 active poker players, but revenues per active poker customer during the second quarter declined 9 percent on Q1 to US$116. The number of active casino players rose 1 percent to 77 837. The company had 5.2 million gaming accounts as of the end of June, up from 4.9 million three months earlier.
 
Overall group net gaming revenue for the six months to June 30 was up 35 percent to US$132 million.
 
The group said the third quarter had started well, with average daily net gaming revenues during the first 22 days of July 2 percent ahead of the second quarter.
 
Commenting on the results, 888 chief executive Gigi Levy said: “We are delighted with our Q2 2008 results, especially given that we achieved sequential quarterly growth during a period which is typically seasonally quiet and throughout the Euro 2008 championship. Our various strategic initiatives are progressing well, and given the good start to the third quarter and our clear business strategy, we are confident of delivering future growth during 2008."
 
Operational highlights over the period included a strategic partnership signed in June with Sportech and a white label agreement with PokerDome .

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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