888 Revenues Rise Past Expectations

The revenues for 888 Holdings PLC have risen past the company’s expectation thanks in part to the large market share 888 has secured in the newly regulated Spanish market. 888 currently holds the number 2 spot in the Spanish market for internet poker.

One event that has significantly helped 888 Casino revenues is the fact the Full Tilt Poker was shut down and poker players looked for other internet sites for their gaming entertainment. Also attracting players to 888 casino and poker games are the ample promotions and bonuses available at the internet casino. To top it off, players receive an excellent gaming experience and first-class customer service so 888 is able to keep its players happy.

The company does expect to have the year’s second half of revenues slightly less than the first half due to the company investing a significant amount of money into advertising and operating costs to ensure it keeps its position in Spain. 888 had expected to factor in these costs to the 1st half of the year but due to slow regulation in Spain, the costs will go against the gains of the 2nd half of the year.

Some of the revenues will also be allocated towards the American market as the company has already begun developing a business-to-business (B2B) poker platform for WMS Gaming and Caesers Interactive. Even though no one is quite sure which states in the US will legalize internet gambling, 888 Holdings is focusing on Nevada. Analysts expect 888 year earnings before interest, tax, depreciation and amortization to be £46 million.