888.com Reports Operating Growth

10th April

The UK's second-largest online gaming company, 888 Holdings, announced its 2007 financial figures, which shows they have almost recovered after pulling out of the US market in 2006.

The Gibraltar-based company posted a 106% increase in underlying profits from $22 million to $45.6 million (£23 million) as it’s refocusing on up-and-coming markets and European growth paid off while pretax profits increased from $13.4 million to $38 million (£19.2 million).

Total operating income rose by 38% to £217 million for 2007, with profits more than doubling from £22.2 million to £45.8 million.

"2007 was a year of transformation,'' 888.com CEO Gigi Levy said. “With many strategic initiatives now underway, we see a bright future."

"There is a high likelihood we will make another acquisition in 2008,'' said CEO Levy in a recent interview with Bloomberg. "We are looking at a few companies."