888 Announce Record Pre-Tax Profits
Recession? What Recession? Internet gaming giants 888 Holdings are not aware of any recession as they have announced pre-tax profits of $40.8million.
888 Holdings have released their annual revenues for 2012 and they make for very interesting reading. Their revenue for last year was $376million, up $45million on the previous year. Last year they announced pre-tax profits of $5.8million, a figure that any internet gaming company would be proud of, but that figure rose dramatically to $40.8million.
The figures for Europe and the Americas were particularly pleasing, and they were actually better than the United Kingdom, something that Brian Mattingley was quick to point out. Mattingley is the United Kingdom Chief Executive of the 888 Group and he had this to say on the latest figures. He said, “The growth of poker in newly-regulated Spain and Italy had been tremendous, and we are confident of taking advantage of a liberalising US market.
888 Poker saw their revenue rise 44% on the previous years figures, while the casino part of their business rose by 12%. Overall revenues in Europe were showing an increase of 14% on the previous year, while the UK was showing an increase of 6%.
The future certainly looks good for 888 Holdings as they show no signs of suffering from the global recession that has effected many companies, in fact the company continues to grow. Mr Mattingley was delighted with the latest reports and finished off by saying, “Led by the long awaited re-opening of the US market, from which we are uniquely well placed to benefit, 2013 is a year of significant opportunity and we have got the right deals in place to gain a substantial foothold in the US.”
Internet poker and internet gaming are multi-million dollar businesses now, with 888 fast becoming one of the major players it seems.
