Online Casino News - 888.com announces 36 percent revenue rise
2nd of September 2008 Author: Ava Jackuard
The Gibraltar-based online gambling group 888.com released its H1 2008 numbers this week, basking in the achievement of record half year results and its seventh consecutive period of quarter-on-quarter growth.
CEO Gigi Levy reported pre-tax profits up 39 percent to $26.3 million during the six month period to the end of June, compared with the $18.9 million recorded in the same period last year. EBITDA was up 63 percent to $28.3 million from $17.4 million and operating income surged 40 percent to $135.4 million, well up from the 2007 H1of $96.8 million.
The company reported a 36 percent rise in net gaming revenue to $131.5 million (H1 2007:$96.8 million).
Applauding his company's innovative strategies, CEO Levy said the firm had achieved record half-year results and a seventh consecutive period of quarter-on-quarter growth.
"Revenue from our core operations has been boosted by the successful launch of 888ladies and 888sport, and our addition of over 1 000 best-of-breed games will help increase revenue further", he said.
Prospects for the third quarter look good, Levy concluded, with new products and business-to-business initiatives and stronger activity on the Pacific Poker operations following the seasonally quieter summer months.
"Given current trading, the continuous growth in our emerging offerings, our successful 'B2B' business, and our clear business strategy, we remain confident of delivering future growth in 2008," he said.
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