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***888.COM NEWS*** |
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74% more profits for 888.com in 1st half of 2006
[Saturday, September 16, 2006]
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One of the leading online casinos, 888.com, reported a huge increase in net profits for the first half of 2006. Profits reached $42.7 million compared to $24.5 million in the same period in 2005, an increase of 74.4%. This is based on January-June revenues of $163.5 million as against $123.7 million in 2005.
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The main source of growth was in the UK market, which recorded a 61% increase, while the rest of Europe had a 16% growth. This reflects the increasing numbers of players attracted to 888s poker and other casino games. Poker alone grew by 68% in the last year, contributing almost $74 million.
John Anderson, the 888 CEO, commented: "We have achieved all our objectives. The excellent results reflect a high point of profitability." Anderson is due to relinquish his post at the end of the year in favor of Operations VP Gigi Levy and to be appointed a Director of the company.
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