888 predicts better future
At the recent annual shareholder meeting at 888 Holdings plc news of an encouraging start to 2007 after releasing new games and recruiting more gambling customers.
This news comes despite its share price dropping 7p to 115.5p per share in May, followed by the end of the acquisition talks with Ladbrokes and the company’s decision last year to pull out of the American market.
Mr. Richard Kilsby Chairman at 888.com, told shareholders that these new games would sustain its momentum as it moves into the traditionally quieter second quarter.
'Trading is in line with expectations and we continue to look forward to the future with confidence,' said Mr. Kilsby.
The company was among several London-listed gaming groups to close or sell their American businesses after the United States effectively banned Internet gaming in October by passing the UIGEA.
888 fared alot better than many of its online rivals because it had already built up a substantial non-American business and profits increased 55 percent last year as these customers played more online casino and poker games. The company said that it now gets 45 percent of its sales from the UK and 36 percent from the rest of Europe.
888 also raised its research spending to a record $19 million and introduced a new casino game almost every month in the last quarter of 2006 to help rebuild its business. This year has been no different and it has most recently added games including Crazy Blackjack.
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Click here for 888 Casino
This news comes despite its share price dropping 7p to 115.5p per share in May, followed by the end of the acquisition talks with Ladbrokes and the company’s decision last year to pull out of the American market.
Mr. Richard Kilsby Chairman at 888.com, told shareholders that these new games would sustain its momentum as it moves into the traditionally quieter second quarter.
'Trading is in line with expectations and we continue to look forward to the future with confidence,' said Mr. Kilsby.
The company was among several London-listed gaming groups to close or sell their American businesses after the United States effectively banned Internet gaming in October by passing the UIGEA.
888 fared alot better than many of its online rivals because it had already built up a substantial non-American business and profits increased 55 percent last year as these customers played more online casino and poker games. The company said that it now gets 45 percent of its sales from the UK and 36 percent from the rest of Europe.
888 also raised its research spending to a record $19 million and introduced a new casino game almost every month in the last quarter of 2006 to help rebuild its business. This year has been no different and it has most recently added games including Crazy Blackjack.
Click here for Casinos
Click here for 888 Casino
posted by Glenn at Friday, June 01, 2007
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