888 to Release Sports Gambling Website
Like many online gambling operators, 888 has had to supplement its heavy loss of the lucrative American online gambling market with new innovations since the Internet Gambling Act of 2006 was introduced. With a 36% increase in revenues in one year from its recently released 888ladies bingo site and increase in casino games, 888 is proud to announce the release of its upcoming sports gambling website.
The British company’s release of a sports gambling website is expected to expand its growth into the European market, as well as the sports gambling Asian market. Financial experts are already rating 888 as a “buy”, which indicates the high expectations regarding company investment and rising value.
The sports gambling website will be released in 6 countries across Europe, including Spain and the UK, within the month. According to CEO Gigi Levy, “We are going to soft launch it (sports gambling) next week and it’s going to be widely available this month. We have got another white label (software provision) deal lined up that we will announce probably in the coming month or two and we are looking at a few acquisition targets. We would consider poker acquisitions but unfortunately there’s not a lot of good things to buy out there at the moment.”
Despite that it has been traditionally quite hard for sports gambling companies to make significant profit off of sportsbooks, 888 is expected to manage its new sports gambling site with the same success that it has enjoyed from its poker and casino websites, which featured a 60% increase in fourth quarter sales last year.