UPDATE 1-Online gaming firm 888's full-year rev up 26 pct - Gadsit ...

By Gadsit - Tue Feb 07, 2:58 am

* Full-year rev up 26 pct to $331 million

* Says strong current trading continues into Q1

Feb 6 (Reuters) ? British online gaming company 888
Holdings saw its full-year revenue grow 26 percent as
the number of customers gambling on its websites grew, and the
company said strong current trading continues into the first
quarter.

Cash-strapped Britons are staying at home more, watching TV
and gambling online, updates from consumer-facing companies
showed, as fears grow that the UK will slip back into recession.

The company, which operates 888 casino, poker, sport and
bingo brands, posted a revenue of $331 million, up from $262
million a year ago.

As of Dec. 31, the company said it had 10.6 million casino,
poker and sport real money registered customer accounts, up 22
percent from a year ago.

The prospects for online betting companies are growing
brighter as they seek to break up national gaming monopolies in
a number of EU countries and the United States considers
legalizing online poker.

Last week, a unit of private equity-owned Caesars
Entertainment Corp extended its UK software licensing agreement
with 888 to the United States.

Last October, 888 rival Bwin.party Digital Entertainment
said it planned to partner with U.S. casino operators
MGM Resorts International (Dusseldorf: 951364.DU ? news) and Boyd Gaming (NYSE: BYD ? news) to
offer internet gambling, should it be legalized, to American
customers.

888 shares, which have more than doubled from their 52-week
low last year, closed at 57.25 pence on Monday on the London
Stock Exchange.
(Reporting by Jochelle Mendonca in Bangalore; Editing by
Joyjeet Das)

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Source: http://gadsit.com/update-1-online-gaming-firm-888s-full-year-rev-up-26-pct.php

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