888 Sees Revenue Increase in 1st Quarter 2012

April 27, 2012

888 HoldingsIn the first quarter of last year, 888 was quite satisfied when they posted revenue that eclipsed the $75 million mark. A year later they are even happier with their overall performance as they posted revenues around the $94 million mark, about a 25% increase from this time last year. Their real money gaming sites, which include bingo, casino games, and of course, online poker saw a 23% increase in new player accounts over the past year, as of the end of March.

Of all their business ventures, their online poker segment was the one that saw the biggest increase in the first quarter this year. Poker revenue was up 88% with revenues of $21 million. A mark that is surprising considering the recently turbulent online poker industry worldwide. 888’s CEO offered a statement on the recent success, stating, “Our focused strategy has led to another excellent quarter, with ongoing strength in Poker driving March to the highest ever monthly revenues in the history of 888.”

The company plans on further increasing revenues through various investments and even expressed interest in expanding real money gaming operation in the US. Brian Mattingley stated his caution about entering the US market though, saying, “I’m very cautious on the US market. It will open. When it will open, nobody is sure. We want to concentrate more on territories where we know they are opening.”

So while the possibility of more real money online poker in the US continues to loom on the horizon, it is nothing more than speculation, as it has been for quite some time now. The reluctance to pass along confidence in the US market caused share prices for 888 to fall ever so slightly, at 1.55%. It is obviously good to see one of the best online poker sites in the industry continue to grow and expand, refuting the more commonly held belief that real money online poker is on the way out.

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