888.com proudly announces third quarter results of 37 percent income growth

Through this week’s publication of its 2007 third quarter report, 888.com which is located in Gibraltar, has announced yet again a group of positive results.

For example, its net gaming revenues for this quarter increased 37 percent to arrive at $52.5 million (vs. results for 2006: $38.3 million). In addition to this, the company also reports that it is trading strongly well into the fourth quarter due to the launching of 888.it – a sportsbook geared to the Italian market, as well as and in addition to a major television advertising program. During the month of October the operations of 888 witnessed daily casino revenues as well as poker revenues that climbed by 11 percent. This makes the projected results for the fourth quarter look particularly good.

Gigi Levy, 888.com’s CEO has announced the company’s satisfaction with the recently released results noting that this was achieved during what is usually seen as being the slowest quarter of the year. He explains this as being a function of the company’s continual introduction of its innovative product offerings and of the growth into new geographic markets. He says that he is sure that this performance will continue during the remainder of the year 2007 and even beyond that.

Noticeable among all this is the large amount of revenues ($4.9 million) derived from backgammon and bingo. This may be compared to the total lack of revenues in this areas from the previous year. At the same time the casino and poker income rose by an impressive 24 percent to $47.6 million (vs for the year 2006: $38.3 million) while the average active member per capita expenditure increased during the quarter by 6 percent to $227 per active member.

The Net Gaming Revenue for the third quarter increased by 5 percent over that for the second quarter. September was the best month for revenues since the company exited the U.S. market. This according to CEO Levy. He also stated that after the commencement of the television advertising campaign, their October revenues look like they will even exceed those of September.

Compared with the third quarter of previous year, 2006, there has been an increase in active customers of 17 percent reaching 209,811. As of September 30th there was a total of 4.4 million casino and poker players using real money registered on the company’s books. This represents yet another somewhat significant increase when compared with the same period in 2006. 

There was also a marked 28 percent increase for the nine month period ending September 2007, in group net gaming revenues. These revenues reached $149.3 million. This may be compared with those revenues of the previous year of $116.5 million in 2006. The amount added by poker and casino earnings came to $142.2 million.

Back to News Archive - November 2007
Back to News Archive
Back to Latest News