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DragonFish Saves Day For 888
3/24/10 - 888.com’s year end results for 2009 were published this week, showing an 18 percent decline in EBITDA, and a welcome boost to overall revenues thanks to b2b division Dragonfish.
EBITDA of Euro 33.7 million at the gambling group was down 18 percent on the year before, but the group’s business-to-business arm grew revenue by 33 percent with a series of impressive deals.
Dragonfish, launched in March last year, recorded revenue of US$51.3 million, up from US$38.6 million the year before in a series of deals with partners that have included Harrah’s Interactive Entertainment, Linden Labs, Bwin Italia, Phumelela, Loper Gate and mobile technology company Probability.
Dragonfish shared star status with 888.com’s other top performing subsidiary division handling emerging markets, which boosted revenues spectacularly from US413.8 million to US425.1 million – a rise of 83 percent.
888’s total operating income declined 6 percent to US$246.7 million, which Management attributed to the poor economic climate last year and foreign currency fluctuations. Profit before tax dipped 10 percent to US$34.6 million.
Real money registered customer accounts rose 22 percent across the group to number 7.1 million, from 5.8 million last time.
In related news, 888.com has apparently fallen foul of the Australian authorities, according to reports in The Australian newspaper. The Australian Communications and Media Authority told the newspaper that it was investigating a breach of the integrated Gambling Act, confirming to the newspaper that it had received a formal complaint.
"We have had one complaint and our investigation is ongoing. However, we have not closed down the site," the spokesman said, declining to elaborate further on the report or discuss exactly what irregularities were under review. However the site did become unavailable briefly during the day, and this triggered speculation that it had been blocked.
A 888 spokesman described the interrupted service thus: "Unfortunately, the 888 site is temporarily unavailable. At this stage, we do not have an expected time for it to be available, and we unfortunately cannot take bets at this time.
"Once there is further information available, we will post this on the website."
The Australian noted that the chief executive officer of Australian operations for betting exchange Betfair, Andrew Twaits, attacked the site's legitimacy in a blog on March 17 this year. Twaits wrote: "Many of the operators offering online poker to Australians do so under the guise of `.net' or `play for free' sites.
“Once customers are on board, they are `cross-sold' to the illegal play-for-money sites." He went on to observe that 888 Holdings plc had launched the new betting agency 888sport. "The company has no Australian wagering licence, they have been through no probity checks by federal or state authorities, they have not had to apply for race fields approval and they are using the face of their online poker business Shane Warne to promote their new Australian wagering business”, said Twaits. “It makes a mockery of the local licensing regime.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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