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World Sees Rise in Online Casino Gambling

Nothing can stop the wheel from turning and this train from rolling. The online casino industry is growing and growing. A summary of 2006, now being completed with forth quarter business reports released from the online casino companies, present a picture that has the world community of gamblers joining the online casino sites and the business expanding, even in the face of the ban on online gambling passed in the United States. The latest news on this world expansion came from the online casino company 888, which is its report said 3.6 million members have joined its sites.
The now 3.6 million members strong online casino operation has also reported an increase in its fourth quarter results for 2006. The 35 percent rise came in spite of having to limit if not entirely shut down the operations in the US. Non-US online casino business, therefore, are the source of this income and of the rise in the number of new members who join the online casino sites. Net revenue from online casino gaming outside of the US reached $157 million for the year 2006. It is, for instance, 28 percent greater than the revenue from the year before.

The global expansion, which proved so profitable for this online casino company as well as for others, includes launching gambling sites in different languages. 888 for example released new online casino sites in Spanish and German, serving these two large European countries. In Italy too the online casino has focused a more specific service that will cater Italians, a new sport betting operation. CEO of the company said on the success it has reported for the year, that “the company has worked hard to continue expanding its non-US business and we are especially pleased with the results released today and our performance in recent months.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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