Optimisme in the online casino industry, despite the recession

14-08-2009

888 Holdings online gambling group writes in a report, this week, that the online gambling industry has been impacted by economies that are slowing and the cosnsumers are spending less. It is described as the worst recession since World War 2.

Optimism on future growth by 888.com

The second-quarter 2009 of the group’s profits is 12 percent less than in 2008. And the number of costumers declined with 8 percent. Income and player numbers are on the lowest in the first quarter. Reported in dollars, the first-half sales, were hurt by the power of the euro and pound against the dollar this year, said Levy. The last end of the second half, 17 percent had the pound slipped compared with the same time a year before and the euro had slipped 11 percent.

Online gaming business is growing again

“We are much more confident of the fact that the industry is growing again. We are surching at Q1 for the lowest point and pointing to grow bigger from there,” says Levy to Bloomberg Business. Levy also told Bloomberg that the plans of the group to set up several operations for other sectors to balance its over timed incomes from the online casino and online poker activities that are hurt by the recession.

Much more of 888.com in the sportsbetting world

888.com shall be seened much more in the sportsbetting field, it appeared, according to Levy and the future new gaming plans of the group. These plans include an aggressive entrance into sportsbetting and football activities. The company shall be pushing the online bingo industry harder in Europe and the plans to get a live dealer online later this year.