Online Gambling Group Chairman Says Results Will Be As Expected

The online gambling group 888 Holdings plc chairman announced this week in his required statement to the London stock exchange, that the first quarter results for his company will be as projected resulting from the acquisition of additional customers and the introduction of new games.

888 Holdngs CEO Richard Kilsby announced in his recent statement that his company’s trading fits in with expectations, and that the company is continuing to see the future as bright and they are viewing it with confidence. The statement was released at the company’s annual shareholder meeting. In Kilsby’s words, the results of the first quarter reflect an encouraging start to 2007. This he sees as helping his company to maintain its momentum into the usually slower second quarter.

In October of last year 888 Holdings saw half of its sales disappear when the U.S. Unlawful Internet Gambling Enforcement Act was approved and began to impact financial transactions with online gambling companies. To cope with this effect, 888 increased its research spending to an all time high of $19 million and brought out a new casino game practically every month during the last quarter of 2006 as a response. They also added additional games like Crazy Blackjack during the earlier part of this year.

In addition to this they have introduced other inventive products including their new bingo product, which was launched following the completion of the May 16th acquisition of Globalcom.

In addition to this, the company's Pacific Poker site has experienced an all-around revamp, which was designed to provide online clientele easier access to casino and backgammon games and to make available a more inclusive presentation of 888 Holding’s products.

According to results made known last month, 888 Holdings experiences a sixteen percent increase increased 16 percent in sales during the first quarter of 2007 over the previous quarter.
With the advent of a greater number of customers from Europe playing online casino and games of poker online, the company saw its profits increase last year by 55 percent. 888 Holdings PLC which also owns the Casino-on-Net and Pacific Poker brands, currently receives about 45 percent of its sales from the U.K. and another 36 percent from the remainder of Europe.

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