888 announces big rise in activity and profits!
May 11 at 9:09am by Mike
The online gaming company 888 announced on Wednesday (May 7 2008) that the first quarter of 2008 started extremely well with a 38% rise in net gaming revenue and added that growth, driven mainly by casino and bingo games has continued into the second quarter
It said its net gaming revenue, which is a key performance indicator, rose to $64 million from $47 million in the same period of 2007 and that it was up 3 percent on the previous quarter.
Last month, the companies chief executive Gigi Levy said he hoped that aided by its new sports betting and bingo sites that the company would achieve 30% revenue growth for the full year,
Levy said in a trading statement on Wednesday, “Our various business initiatives are progressing well and we are therefore confident in delivering future growth during 2008″.
Total operating income rose 41% to $66 million from $47 million a year earlier.
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