888.com holds steady with results

Leading online gambling company 888.com recorded steady income and increased profits in it’s latest results.

They show that for the second quarter of 2010, income remaining steady and profits rising 10% for the first half of the year to US$130mn.

What is fascinating for the industry is that the figures show a massive expansion in revenue from bingo, but falls in the casino and poker sector. Bingo income shot up to$13mn, a mind blowing 372% expansion. Casino revenue fell 9% and 888 suffered particularly in the poker sector, with a drop of more than one-third, 36%.

888.com shares fell slightly on the news, and are trading now at 49.25p, with the business valued at £167mn.

888 also remain confident their purchase of the social gaming company Myotopia can remain a success. We’ll see how 888 do in what looks like an era of consolidation, following the recent BWin-Party merger.

Tags: 888.com