888s profits are up

Casino 888 profits soar despite US ban

888 says it is interested in going on an acquisition spree
Online gambling firm 888 Holdings saw its profits rise 34% last year, despite the US banning all overseas internet gaming websites in October.
The Gibraltar-based firm made a pre-tax profit of $90.5m (£45m) in 2006, compared with $67.4m in 2005.

It added that in the first three months of 2007, its revenues were up 16%.

888 recently ended talks to be taken over by larger rival Ladbrokes, and said it was itself now interested in going on the acquisition trail.

888s chief executive Mr Gigi Levy, said "We don't look at ourselves as anybody's lunch, with that very fast first quarter growth, we should be growing ourselves and acquiring other companies."

A Democrat in the House of Representatives, Barney Frank, has now launched a bill to get the ban on overseas gambling websites revoked, but commentators say he does not have much chance of success.

While Mr Frank says the law "is an inappropriate interference on the personal freedom of Americans", his bill is expected to be rejected by fellow Congressmen.

888 shares were up 2.5% to 122.5 pence in Monday morning trading on the London Stock Exchange.

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Ladbrokes pulls out of 888 deal

888.com and Ladbrokes have announced there will be no deal on the planed merger between the two companies, having decided not to go ahead with a potential deal which looked likely when talks began back in October 2006.

One of the main rasons cited by Ladbrokes was the introduction of the Unlawful Internet Gambling Enforcement Act, which has criminalised companies catering for the online gambling market in the US, witched the loss of 888 major customer base.

888 shares dropped 5.7 percent in response to the Ladbrokes announcement, also in reponce to this news, Morgan Stanley sold there £4.7 million worth of 888.com shares. Ladbrokes shares were trading up following the public statement.

Despite 888.com set-back, they will continue to follow their plans for expansion into the European market.

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Top High Roller Award Goes to InterCasino

Online gambling mag, Gambling.com has announced the results of its first ever High Roller Online Casino Awards.

Over 10,000 votes were cast using an online poll held in the Platinum members section at Gambling.com, Intercasino was named as the winner in the Best in category for its extensive range of games and excellent customer service, whilst Goldenpalace.com and 888 were voted runners-up.


Best in Poker Room category went to Everest Poker with honourable mentions being awarded to leading competitor sites Mansion Poker and PartyPoker.

Best online Sportsbook award went to high-profile US bookmakers Pinnacle Sports who got a much deserved top honours while online casino Bodog and online giant William Hill secured two runner-up spots.


Gambling.com President, MrTim Rosenberg said “We are delighted and proud to be celebrating our 1st birthday with these prestigious awards, Through our industry-leading search engine, Gambling.com Platinum Members have access to the very best operators and websites. As a result, we feel our members are better placed than anyone else to decide on the winners of the High Rollers Awards.”

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Blair defends his UK Casinos policy

Tony Blairs UK Casinos policy came under fire yesterday, suggesting that the proposed casinos would bring much needed regeneration to some of Britain’s most deprived areas.

In an interesting twist PM Blair cited the online gaming industry as a reason to support the new Las Vagas style casinos, claiming that there would be so many avenues for people to gamble online that these new casinos will not to make to much of a difference.

The new casino policy has been under fire ever since Manchester was claimed the winner by the Casino Advisory Panel’s vote to be the site of the UK’s first super casino.

PM Tony Blair stud defiant yesterday, saying a new policy would be brought to the table after the May 3rd elections.

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William Hill aims to crack the Greek Gambling Monopoly

One of the top UK casinos William Hill today announced that it has requested a license to open up betting shops in acorss Greece, knowing that the country’s official betting organisation, OPAP virtual Monopoly.

If the license is not granted by the Greek government, as some expect will happen, the firm is prepared to fight it out in the in European courts in an attempt to put a dent in OPAP's monopoly.

Chief executive David Harding from William Hill said, ‘We believe the recent European cases mean that what is happening is in breach of EU law. If it is rejected we will go to the courts to argue our case and that could involve going to the European Court of Justice.’

William Hill are likely to receive the EU’s support to enter the market after March’s European Court of Justice (EJC) ruling barring Italy from using criminal law to shut out foreign bookmakers in a case presented by Stanley Leisure.

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Casino Domain Names Up for Grabs

Top Domain Asset Management service, Moniker, announced that it will be staging the first online silent auction of first-rate gaming and casino industry domain names at the Casino Affiliate Convention 2007, in Amsterdam May 3 - 5 at the NH Grand Krasnapolsky Hotel.

Moniker has established itself as a leader in its field, hosting more than 10 live and silent auctions since 2004, generating $12 million in revenue.

All visitors to CAC 2007 will be issued with a free, special password allowing them access to the online auction and bidding which will be hosted on the Moniker.com Web site. More information on the auction can be found at http://marketplacepro.moniker.com/auction/index.html.

Individuals present at CAC 2007 will also be able to join the auction by purchasing an absentee bidder registration for $99. The range of domain names on offer include: ePoker.com, Slots.com, Jackpots.com and Gambling.org as well as many others.

As individuals continue to participate in online gaming and entertainment, the need for a marketable domain name is now more important that ever,' said Monte Cahn, co-founder and chief executive officer of Moniker. 'Events such as this silent auction at CAC 2007 are critical events for online gamers who are interested in increasing the scope and reach of their online business.

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Manchester Super Casino on the Rocks

All plans are holted on Manchesters super casino until next month at the, the UK government has confirmed, after a stalemate developed between the two houses in parliament.

A spokesperson from the Department for Culture, Media and Sport said 'it would be futile to try and break the stand-off between the House of Commons and the House of Lords, which last month voted against the plans for a Vegas style supercasino, before the local elections on May 3rd', and with parliament on an Easter break until the middle of April, and the start of 'purdah' before the May 3rd elections, ant possible progress on the mater would be next to impossible. But the Department for Culture, Media and Sport is hopeful progress will be possible after then.

Manchester was the winner of a nationwide race to be selected as the country’s first site for the UKs first Las Vegas style super casino, which would allow for over 1000 unlimited jackpot slot machines.

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E-Wallet in Euro Expansion

Online Casino users now have the facilites of new e-wallet for their betting needs after the recent launch of Ukash, this UK based payment processor is rolling out across Europe and is accepted by the best Casinos in the iGaming industry.

Ukash is welcomed by industry leaders such as 888.com, PartyPoker and Bwin as an alternative to using your credit or debit to make payments online.

The Ukash facility was previously issued in the UK, Ireland, Spain and Germany, but has now expanded to include 16 European countries: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Hungary, Italy, Latvia, Netherlands, Norway, Portugal, Poland, Slovakia and Sweden.

Players can get Ukash at their nearest bank branch by completing a simple paying-in slip. An email or SMS message will then be sent out with an individual 19-digit Ukash voucher number. The voucher number can then be used at any participating website.

Chief Executive Officer at Ukash Mr Mark Chirnside said, 'Ukash has been a great success in the UK, Ireland, Spain and Germany and I am sure that the expansion across Europe will ensure that the success story continues'.

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PartyGaming stock sees sharp rise

An incredible rise in the price of PartyGaming shares has seen the company’s stock hit the top of the FTSE 250’s perfomrance index, with the cost of shares rising 66pc for unrivalled gains in the FTSE’s alternative stock market index.

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Shares in PartyGaming began this year around the .29 mark. The anti-gambling bill that passed through the US Congress in October 2006 forced PartyGaming to pull out of the US market, wiping billions off the company’s value as stock plummetted to just 20pc of its former value.

But with a cleaver series of aquisitions and steadily increasing player numbers on PartyGaming’s online gambling sites led to renewed confidence in the stock and by February 2007 the share price was beginning to rise. Towards the end of February 2007 the share price had surged to an incredible .45, but with the release of PartyGaming’s annual report on the 1st of March 2007 the share price fell back to around the 34p.

By the start of April 2007 PartyGaming shares had the strongest gains out of any stock in the FTSE 250.
Looks like PartyGaming are back off the rock and are sailing in good waters!

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Brand New UK Bingo Site

Cyberbingo is a dynamic online bingo site and winner of the 2006 prestigious Site of the Year award, has just announced the launch of its UK gaming site.

CyberBingo combines the latest, upto date version of the groups proprietary software, featuring high-end play and design, and offers both Bingo75 and Bingo90 varieties of bingo games alongside CyberBingo's large guaranteed fixed cash prizes.

Joe Peterson from CyberBingo said, 'The UK has been one of the fastest growing markets for online gaming for some time now and for bingo, there's no better fit for us, for the past 10 years, the UK has consistently been our largest clientele after the US so it made sense going into our second decade in business that a CyberBingo website exclusively catered to UK players was necessary.'

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The WTO fights against UIGEA

A decision was made by the three member panel from the 'The World Trade Organisation' regarding the stance of the United States towards online gaming, which backed its own report from April 2005 which ruled against the US.

The dispute was brought to the WTO by Antigua, over Internet gambling rules, and an April 2005 decision ruled that the US does not apply its laws on online gaming in a non-discriminatory manner. The most recent report, released on March 30th 2007, re-affirmed that decision, confirming that the US has done nothing to comply with the original ruling and giving a resounding vote in Antigua’s favour.

The decision, which will be greeted with delirium by the whole on the online gambling industry, was hailed by Antigua’s Ambassador to the US, Dr John W. Ashe, who said: 'This is a smashing success for Antigua. The report will sweep away any lingering doubt that Antigua has obtained a clear and convincing win over the US in this matter. It is now time for the US to meet its international trade obligations.'

The WTO made a special mention of the Unlawful Internet Gambling Enforcement Act 'UIGEA', which has led to the high profile persecution of a number of foreign online gaming companies. The WTO pointed out the US still had a 'flourishing remote account wagering industry' despite claims by the US that it prohibited all remote gaming throughout the country.

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High Court to Re-examine UK Casino Plans

The High Court is to re-evaluate the rules relating to the planned development of new UK super casinos in response to a series of complaints from existing casino owners, who fear that the introduction of Las Vegas style venues will do irretrievable damage to their businesses.

The three-day hearing, which will take place in May, will allow ample time for any key legislative changes to be put into place before the new regulations take effect on September 1st.

The key concern voiced by casino operators is that the new style casinos will house high earning slot machines that will give them an unfair advantage. The British Casino Association said it was asking the High Court to order the Secretary of State to review the new rules.

Penny Cobham, chairman of the The British Casino Association also said, 'The additional entitlements given to the 17 new casinos will seriously threaten many long established businesses.
The Association strongly believes that the Secretary of State has erred in considering and determining the arrangements for existing casinos in such a way that gives rise to very serious concerns about their impact and lawfulness.

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UK Super Casino plans are still alive

The UKs Secretary of Culture Secretary, Tessa Jowell has reiterated that plans for a Super Casino in Manchester are 'very much alive', after facing an unanticipated defeat by peers last Wednesday, according to a report in the Guardian newspaper.

Tessa Jowell was adamant that the House of Lords' vote had not closed the door on the Las Vegas-style venue, despite MPs' advice that ministers may need to cancel or continue to deliberate over plans for the regional casino if there is any hope of sanctioning the construction of 16 smaller venues.

The UKs Department for Culture, Media and Sport has highlighted that the period of purdah will mean that the issue may not be revisited before the Scottish, Welsh and local elections in May. Tony Blair is expected to stand down shortly afterwards, leaving a window of several weeks for the implementation of a new order to parliament before his actual departure.

The UKs prime minister's official spokesman told reporters: “As Tessa Jowell told the cabinet, this policy is very much alive. Ministers will want to reflect on where we are. What nobody should be in any doubt about is the intention.”

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888 Holdings call Bingo

Online Casino 888 has announced that it will buy out Globalcoms online bingo business for around USD 43 million in cash.

This new acquisition is expected to make a positive and immediate impact on the company’s revenues. 888 has agreed to pay USD 32 million, minus the amounts payable to customers, over a period of a year, following the conclusion of the deal.

The remaining USD 11 million is performance related depending on the success of the company which includes other bingo sites, twofatladies.com and bingofabulous.com.

888 Chief Executive Mr Gigi Levy said "Bingo will be a valuable addition to our entertainment services, which we expect to provide excellent cross-selling opportunities".

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