888 Online Gambling Profits Increase in 2008 by 38 Percent
Online gambling group 888 Holdings Plc has just released its official financial report for the first half and second quarter of 2008. The figures that were published did not include the net profit of the company as the results are only provisional, yet the general outcome shows a rise of 38%.
The second quarter was lucrative for the online gambling group, who earned operating revenues totaling $69 million. This is a 5% increase from the first quarter, and a 36% increase since this time last year. The gross online gambling revenues are worth $67 million, whish is also an increase from both the first quarter of 2008 and the corresponding quarter of 2007.
The overall operating profit that was earned during the first half of 2008 rose to $135 million, which is a 38% increase from last year’s first half profits which were $98 million. As for the net online gambling revenues, there was a jump from $97 million to $132 million since the corresponding half of last year.
The online gambling group has stated that it is very satisfied with the second quarter results, which will provide a comfortable basis for the current third quarter. The company believes that the 2% increase in daily net online gambling revenue that occurred during the first 22 days of July is due to diverse offerings and the strong popularity of poker. And despite that the net revenue for the quarter remained the same as last year’s ($20 million), the first half of 2008 boasts a 2% rise.