888 Releases Favorable Full-Year Results

Revenues go up 26 pct

A strong growth has been posted by British online gaming company 888 Holdings in its full-year results - 26 percent, and the company reports the growth trend continues in the first quarter of 2012, as well.

With financial crisis in Britain, people tend to stay at home more often and seek cheaper entertainment options – online gambling being one of those. This may be one of the main influences on the Brit company’s revenue increase to $331 million from $262 million a year ago.

The company, which operates 888 casino, poker, sport and bingo brands, specified that as of Dec. 31, it had 10.6 million casino, poker and sport real money registered customer accounts, which is 22 percent more than a year ago.

Also, it has been reported that the company shares, which now worth more than twice their 52-week low last year, closed at 57.25 pence on the London Stock Exchange on Feb. 6.

In addition, the company is building momentum for entering into the US market through a software licensing agreement it had closed with a unit of private equity-owned Caesars Entertainment Corp. It is not the only one pursuing its chance in the potentially regulated market, as its rival Bwin.party Digital Entertainment a few months back decided to enter an online gambling partnership with U.S. casino operators MGM Resorts International and Boyd Gaming, provided that the pastime becomes legalized in the country.

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