888 Expected to Surpass 2012 Predicted Earnings 25.10.2012

Blackjack News

In a time when the economy is weak and many companies are taking financial losses, one gambling company is doing far better than predicted. 888 Holdings has reported that that its expected 3rd quarter revenues are higher than were expected. The company believes that this is a good indication that 2012 year-end earnings will be higher than previously predicted.

During the same 3rd quarter of 2011, 888 Holdings revenue totaled $86 million but this year the company has seen a 7% increase year on year. Each of 888 Holdings’ gambling sites has enjoyed significant growth when compared to the same time period in 2011. 888 Casino which offers players games including roulette, blackjack, slots, video poker and more has increase 2% and has made $38 million for the company. There has been an astounding amount of growth, 21%, from 888 Poker which has brought in $22 million.

Besides its significantly increasing revenue, the casino has reported that it has 12.5 million Casino, Sport and Poker customer accounts which is a 24% rise. The CEO of 888 Holdings, Brian Mattingley, attributes the company’s targeted marketing campaigns as a major contributor to its success. In addition, 888 Holdings has got a foothold in the emerging Spanish market which is performing well above expectations.

Mattingley said: “The final quarter has started positively with average daily revenues more than 7% ahead of the strong fourth quarter in 2011.” Taking all of the figures for the 2012 year so far, a number of analysts now expect 888 Holdings to report average earnings before interest taxes depreciation and amortization (EBITDA) of $59.8 million.

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