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April 25, 2012

Despite Rotten UK Economy 888.com Gets Back Its Mojo

Posted by : admin
Filed under : General Green

888.com is looking great forward to a great year in 2012, after this UK-based internet gambling firm has picked up dramatically in the online gambling business again. The end of 2010 and into 2011 was not looking great for them financially, but after the introduction of a brand new and innovative online poker product this offering changed around. Now across all of their brands, continued growth has been shown. Even while the British economy struggles through their current recession, 888 Holdings plc expects an impressive 2012.

888 Holdings plc offers turnkey software, B2B and B2C solutions to online bingo, casino and poker operators, as well as operates their own websites. And while this might appear to be a conflict of interest to some online gambling ops; it seems that they manage to work it out with them somehow, we are not really sure how this is done.

The British company enjoyed a 26.33% growth in revenue during 2011, as new fans of their websites, signed up in droves. They are also the owner of the Dragonfish bingo network and this is the largest online bingo network in the UK, with more new sites still coming live online all the time. Even Reuters has reported that 888 continue to see strong growth for Q1 of 2012, following a strong 2011.

While the notoriously ‘penny-pinching’ Brit may be staying at home these days, and the new Government austerity measures deplete from disposable income, this bodes well for companies such as 888. People are finding online gambling not only to be entertaining, but also to be an economical form of entertainment. There are real fears that the British economy will again slide sideways into even a deeper recession, but even amid these fears revenue and increases customer sign-ups are creating healthy returns.

Parent company – 888 Holdings – revealed a $69 million increase from 2010’s $262 million, to a much healthier $331 million. The company has also revealed that they now offer services to 10.6 million registered, regularly returning customers, which is up on 2010’s numbers by 22% from 2010. These are people playing real money poker, sport, bingo and casino games.

Not only 888.com, but many online casino companies are turning envious eyes upon the market in the USA, as well as an ever-growing marketplace inside Europe. 888.com is responsible for Caesars Interactive Entertainment’s software for Europe and the UK, online casino and bingo sites, and this partnership may pay off big-time for the long- term. This brand has been very fortunate in this particular partnership, where just a few short weeks ago they announced plans to extend this British software licensing agreement to the USA. This will allow them to provide a ’real money’ offering in the USA, where this is their next target market.

Bwin.party Digital Entertainment has also announced that they have plans afoot to enter the USA online gambling marketplace. They have teamed up with MGM Resorts International and Boyd Gaming Corporation, who operate and run casinos throughout the US.

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