888 Poker, Casino Revenue Stun Investors: Share Price Rises 14 Per Cent
The week ended solid for 888 Holdings, parent company of the world’s 4th largest online poker venture, 888Poker.com.
Stocks sored up 14 per cent on news that company profits were “materially ahead”, due in part to a strong presence in the Spain market.
The firm is now the second-biggest player in the Spanish poker market after PokerStars.
Simon French, an analyst at Panmure Gordon , upgraded his full-year ebitda forecast for 888 by 22pc to $56.1m immediately following Friday’s announcement.
888 is also forging relationships with US-based casino firms in hope of the market becoming more regulated in 2013.
- Aaron Goldstein, Gambling911.com