The London Stock Exchange this week was told that online gambling firm 888 Holdings plc will achieve target results for the first quarter of 2007. Chairman Richard Kilbsy told investors that the firm has won new customers and is planning the further introduction of new games.
"Trading is in line with expectations, and we continue to look forward to the future with confidence,'' Kilsby said. He went on to say that the first quarter results will help the company focus during the traditionally quieter second quarter of the year.
888 was among gambling firms hit hard by the introduction of the U.S. Unlawful Internet Gambling Enforcement Act in October 2006. However, the company rallied and spent a record $19 million to add new games such as Crazy Blackjack each month since the last quarter of 2006 in response to US Congress's decision. A new bingo product and the acquisition of Globalcom also helped to win 888 new business, along with a rehaul of the Pacific Poker website.
Last month, 888 announced that sales increased 16 percent during the first quarter of 2007, while profit increased 55 percent on the same time last year. The growth has been attributed to the habits of European customers who have recently embraced online gambling. 36 percent of 888's revenue is now derived from Europe and a further 45 percent of sales come from the U.K across its Pacific Poker and Casino-on-Net brands.

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