888 Holdings 2012 Q2 Revenues Up 17 Percent

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Jul/27/2012
888 2012 Q2 Revenues Up 17 Percent

(Reuters) - Online gaming company 888 Holdings said revenues in July were up by 10 percent so far but added that it was not yet clear what effect the London Olympics would have on its business.

Second quarter revenues rose 17 percent to $92 million, the company said. Earlier this month 888 raised its forecast for full-year core profit thanks to a stronger performance at its casino and poker business.

Third quarter trading started in line with expectations, with July's average daily revenue 10 percent above a year ago, the company said.

"We expect to see the effect of seasonality in the remainder of the third quarter, and the impact of the Olympic Games in London remains unknown," it added.

The Games open in London on Friday and every event will be streamed live to Britons by the BBC via tablets, PCs and Internet-enabled televisions.

The company's shares were unchanged at 81p by 0820 GMT on Thursday, after a strong run following the increased profit forecast on July 12.

Business/Financial News

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