[bigboydan]

PartyPoker is up for sale and losing money, and 888 is saying there making money.


This sorta surprises me a bit really. What really floors me is that 888.com was just saying last week that they were going to venture into the online sportsbook market, because they needed to earn more revenue in order to make up for there U.S. stake that they lost.

888 profits soar despite US ban

888, the Gibraltar-based online gambling firm, has shrugged off concerns over ongoing American legal action with a strong set of results for the first six months of the year.

The group, which claims to be Britain's best-known betting website, saw pre-tax profits almost triple to $19m, on net gaming revenues of $97m, up 24pc.

The group was forced out of the lucrative American market in October 2006 and lost 25pc of its staff, following US Department of Justice legislation.

Before the Internet Gambling Enforcement Act was introduced, the American business accounted for more than half of 888's revenue.


However, the group is now refocusing its operations outside the US, recently teaming up with Rileys Snooker Halls in the UK and Tower Torneos in Latin America.

The firm is also entering into sports betting after obtaining an Italian licence, with plans to extend to other regions in the future.

888 operates in 12 languages, aiming to grow in multiple markets simultaneously. It has launched a new game each month and has recently successfully introduced new 3D poker software.

Takeover talks with Ladbrokes failed for this reason at the tail end of last year.

888 plan to pay first half dividends of 1.8p per share, compared to 4.5p per share for the same period last year, before the legislation hit its American business.

Looking ahead, the company will focus on growth through new game introductions and a new European advertising campaign later this year.

[BigBollocks]

I'm with you Dan. This one's really hard to believe. I've never seen a company reverse their tone so quickly from week to week. One day they desperately need to branch out into more countries and diversify their gaming packages to survive, and a few days later they're richer than ever. I'm scratching my head on this one...

[biggamer3]

Lots of people say things so what

[BigBollocks]

Lots of people say things so what

So when it's people saying things that you have a large balance with you tend to care a little more. Also, if you have a sizeable interest in the offshore industry as an investor or stockholder you tend to care a little bit more as well. For someone named "biggamer" on an offshore discussion forum you would think you might care about press releases put out by larger offshore companies. Or not.

[LLXC]

Did they just alter their house adv more in their casinos?

[Rollins08]

Did they just alter their house adv more in their casinos?

That is the only way I can see them making more money.

[JoshW]

They had a pretty good international audience with 888 casino, but I am still surprised. Could be b/c their poker room was never that strong.

[marc]

Interesting that they don't mention their EPS. The dividend is only 40% of what it was last year, eventhough their "profits" soared. Could be a sign that 888.com made some acquisitions. So while their overall profits are higher, theearnings per share might be less.

[pico]

888 is ran by ex triad members, so not suprised that they flip flop.

those asian mobsters really care about saving face, so they'll say whatever they want to make themselve look good.

[jjgold]

All bull shit, those numbers are lies


This place is basically bankrupt.

[biggamer3]

So when it's people saying things that you have a large balance with you tend to care a little more. Also, if you have a sizeable interest in the offshore industry as an investor or stockholder you tend to care a little bit more as well. For someone named "biggamer" on an offshore discussion forum you would think you might care about press releases put out by larger offshore companies. Or not.

Why the **** would i care about some bullshit numbers they pull out of their ass?

How exactly are you an investor?

[BigBollocks]

.....

[bigboydan]

I can't believe their business is still being reported as soaring profits. The third quarter numbers for 888 are up almost 40% after reporting a strong showing in September.

888 pulled out of the United States market when the government passed bills to make it difficult for American gamblers to play online, now, the company has experienced its best month since pulling out of the U.S.

The third quarter numbers for 888 are up almost 40% after reporting a strong showing in September. After seeing a sharp decrease in August, numbers were back up in September causing their third quarter numbers to be up from last year.

The company apparently is doing well marketing its product since pulling out of the U.S. market as numbers for the third quarter rose from $38.3 million last year, to $52.5 this year.

Gigi Levy, the company's chief executive had this to say about the increase, "Net gaming revenue in Q3 climbed 5% higher than Q2 with September being our best month since we withdrew from the U.S."

The company is also off to a strong start in the fourth quarter as their daily average has been 11% higher than the quarter three daily average.

The casino and poker portion of the revenue increase in quarter three was up 24% to $47.6 million.