888 Holdings Place Which Is Based In Gibraltar Showing Confidence Regarding Year's Activities

First half trading seems to be following in line with earlier expectations according to 888 Holdings plc, the Gibraltar-based online gambling group. This was announced Thursday. They also say that they are feeling very confident with respect to the company’s prospects as regards the remainder of the year.
On September 10th the company will be presenting its interim results.

There has been an ongoing struggle among all of the online gambling companies as a result of last October’s passage of the new anti-gambling law in the United States which was passed be Congress and which stopped US residents from being able to carry forth financial transactions with Internet gambling companies. Before the passage of this law those living in the United States of America had accounted for 55 per cent of 888's sales.

However, there was a growth in the popularity of online poker among those living in the remainder of the world and this actually had the effect of lifting up net gaming revenues by an astounding 19 percent, reaching as much as $47 million during the first quarter. With this growth 888 has been persistently mentioned as a target for a buy out since October. This was reported in the Financial Times in its review of the trading report.

In fact this organization was involved in discussions with Ladbrokes for a period of six months. The subject was a possible acquisition but the bricks-and-mortar gambling group broke off talks in April when it was fired that the potential United States legal liabilities of 888 plc might come back on Ladbrokes in the future.

The CEO of 888, Gigi Levi, reported that following the termination of talks with Ladbrokes, 888 might be seeking its own acquisitions.
In line with this 88 bought Globalcom's online bingo business in April, paying $43 million.

It was announced by 888 last month, that it had commenced talks with US justice authorities. The intent of the talks was to remove any threat of possible government action against the company for its dealings in the United States. When presenting its update on Thursday, there was no mention of how these negotiations are progressing.

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