Endorsed by Gambling911

888 Revenue Up 25 Percent in 1st Quarter 2012

Written by:

Guest

Published on:

Apr/24/2012

888 Revenue Up 25 Percent in 1st Quarter 2012

(Reuters) - British online gaming company 888 Holdings said first-quarter revenue rose 25 percent as more people opted to use their services and gamble online amid an economic slowdown.

The company had 11.3 million casino, poker and sport real money registered customer accounts as on March 31, an increase of 23 percent from a year earlier.

888's consumer segment revenue rose 29 percent to $83 million (51 million pounds) in the first quarter, boosted by its casino and poker brands, the company said in a statement.

888 said overall revenue rose to $94 million from $75 million a year earlier.

"Trading during the first three weeks of the second quarter continued to be strong, with average daily revenue one percent higher than the first quarter 2012," the company said.

Shares of the company, which recently named Brian Mattingley chief executive, fell 2 percent to 76.5 pence on Tuesday morning on the London Stock Exchange.

Gambling News

60 Minutes Dives Into MGM, Caesars Ransom Attack of Last Year

A surprisingly young cohort of hackers paralyzed some of Las Vegas’ biggest hotels and casinos last fall, demanding an exorbitant ransom. The FBI and cybersecurity researchers call them “Scattered Spider." Bill Whitaker reported on the story for 60 Minutes Sunday.

'Stop the Sports Betting Tax Hike in Illinois' FanDuel Demands, Other Operators Question Motives

"You’re the ones who gave IL license to ask for more taxes," another operator claims.

Unibet Employees Left in Dark About Sportsbook's Impending Closure: Virginia Shuttered

Customers must pull their funds by May 13. Virginia, who knows? The site there closed on April 11 we were told on April 12. PA customers have a little longer time to work with as they were just informed of a June 21 closure.

Kids Left Alone in Car for Four Hours at Casino Found Playing in the Street

The children were left with a cell phone with a dead battery.

Does the IRS Report How Much I Won at DraftKings?

If you won over a certain amount of money betting at DraftKings, the online sportsbook is obligated to report your winnings to the IRS. DraftKings and other regulated sportsbooks typically require you to provide your social security number during the registration process.