888Holdings Posts Excellent H1 Results

Written by: Nikola Zugic on 31/08/2008 02:00

888 Holdings Plc is the second largest online gambling company in the UK and they've shown extremely good results for the first half of this year with profits rising by an impressive 40% thanks to a range of new games and also to their online bingo site, 888Ladies Bingo. The company responded positively after taking a hit when the US gambling industry was closed to outside companies.

The online bingo site and the increasingly popular backgammon game were introduced in order to boost the then ailing performance of the 888 Holdings network and it certainly appeals to have the done trick. Net revenue from all arms of the gambling network was a particularly healthy $131.5m and the company currently has a total value of just shy of £500m.

Revenue from emerging games (a category that includes both online bingo and backgammon) rose eight times its previous limit to $19.4m while casino games remained the highest provider with revenue of $70.5m. All sections of the 888Holdings network rose impressively with casino games up 31%, poker up 2.2% to $41.7m and emerging games up 800% to $19.4m. 888Ladies Bingo certainly has something to offer it would seem.

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