888.com Sees Strong Early 4th Quarter Growth

Submitted by Guest on

Written by :

Guest

Published on :

LONDON, Nov 3 (Reuters) - Online gaming firm 888 (888.L) said trading was more buoyant across all its businesses so far in the fourth quarter, supported by a UK television campaign for its poker and bingo brands and sees annual profit in line.

The group said on Wednesday it had 8.2 million casino, poker and sport real money accounts as of Sept 30, up 21 percent on the previous year.

888's average daily revenue increased 6 percent in October, boosted by poker that rose 16 percent, as players returned to gaming after the seasonally weak third quarter and upped their deposit levels.

"The fourth quarter has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year," Chief Executive Gigi Levy said in a statement.

Operating income in the third quarter was flat at $61 million, the same level as a year ago and unchanged on the previous quarter.

The company, which calls itself the largest online gaming venue, said it had been awarded a licence by France to operate poker betting websites.

Shares in 888, which have lost more than half their value since last year, closed at 43.5 pence valuing the company at 156.3 million pounds ($251.1 million)

Related Content

Bally's Halts Chicago Casino Construction as Company Reports  $792 million in Revenue....$4.5 billion in DEBT?

Bally's Halts Chicago Casino Construction as Company Reports $792 million in Revenue....$4.5 billion in DEBT?

The company reported roughly $265.9 million in negative operating cash flow during the first six months of the year.
Two Six Figure Jackpots in One Day Hit at Thunder Valley Casino Outside of Sacramento

Two Six Figure Jackpots in One Day Hit at Thunder Valley Casino Outside of Sacramento

Two six figure jackpots in one day and multiple jackpots hit over the course of a few weeks at a single Sacramento area casino.... We're talking the Thunder Valley Casino Resort, a mere 30 miles outside California's capital city.
RealPrize, Lone Star Sweepstakes Casinos Exit Delaware Market

RealPrize, Lone Star Sweepstakes Casinos Exit Delaware Market

Customers at RealPrize and LoneStar have until September 22, 2026 to withdraw all funds if they happen to reside in the state of Delaware.
Trial to Move Forward in MGM Grand Las Vegas Ketamine Case

Trial to Move Forward in MGM Grand Las Vegas Ketamine Case

Prominent sports agent Dwight Manley claims he was involuntarily drugged with ketamine while playing blackjack in the high-limit area of the MGM Grand in Las Vegas in December 2021.