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888 says it has had an encouraging start to the year with new games
NULL , Thursday, May 31, 2007Online gambling company 888 Holdings PLC said it has had an "encouraging" start to 2007 after introducing new games and recruiting more customers.
The company said that the new games would sustain its momentum as it moves into the traditionally quieter second quarter.
The company was among several London-listed gaming groups to close or sell their American businesses after the United States effectively banned Internet gaming in October, causing turmoil in a global market worth US$13 billion a year before the ban.
888 fared better than many rivals because it had already built up a substantial non-U.S. business, but it raised its research spending to a record US$19 million (€14.1 million) and introduced a new casino game almost every month in the last quarter of 2006 to rebuild its business. This year it has added games including Crazy Blackjack.
"Trading is in line with expectations, and we continue to look forward to the future with confidence," Chairman Richard Kilsby told shareholders at the annual meeting.
The company said that the new games would sustain its momentum as it moves into the traditionally quieter second quarter.
The company was among several London-listed gaming groups to close or sell their American businesses after the United States effectively banned Internet gaming in October, causing turmoil in a global market worth US$13 billion a year before the ban.
888 fared better than many rivals because it had already built up a substantial non-U.S. business, but it raised its research spending to a record US$19 million (€14.1 million) and introduced a new casino game almost every month in the last quarter of 2006 to rebuild its business. This year it has added games including Crazy Blackjack.
"Trading is in line with expectations, and we continue to look forward to the future with confidence," Chairman Richard Kilsby told shareholders at the annual meeting.
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