888 Holdings 4th Quarter Figures Bad, January Good

Written by:
Jagajeet Chiba
Published on:
888 Holdings

The online poker craze appears to be going off the boil judging by 888 Holdings's fourth quarter figures, though the online gaming firm said its full-year 2008 earnings should meet market expectations, according to Thursday's Sharecast.

"The upbeat nature of 888's statement seems to have rubbed off on rivals PartyGaming, which is sharply higher ahead of a trading update tomorrow, while bookie William Hill also advances."

But have no fear say 888 Holdings company officials, and the market responded.

Shares in 888 Holdings rise 6.9 percent to 105 pence after the online gaming group says January revenues grew following the tough final quarter of 2008 which saw operating income fall 8 percent due to the impact of the weak pound and the economic downturn.

Encouragingly, January has started well, with net gaming revenue up 10 percent ... though given the weak fourth quarter -- with customers in core products down as well as more currency-led spend -- it is difficult to be confident of upgrades,' Collins Stewart analysts say.

Jagajeet Chiba, Gambling911.com 

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