888 - Britain’s second biggest online gaming firm - has seen an increase in its fourth quarter sales by as much as 55 percent.

Net gaming revenue rose from $40.5 million in the fourth quarter of 2006 to $62.8 million for the fourth quarter of 2007 and all this despite the company being forced out of the US market due to the Unlawful Internet Gaming Enforcement Act (UIGEA).

Its casino games raked in $35 million (an increase of 60 percent on the previous year) and its poker sites $21 million (a 16 percent increase on last year) respectively in the fourth quarter of 2007.  There are also indications that 888 have so far in 2008 “started strongly” according to a source close to the company.

The sales growth is said to have come from increased sports betting in Europe as well as online casino and sports wagers in Asia. 

888’s number of registered accounts has jumped 1.1 million from 3.6 million at the end of 2006 to 4.7 million at the fourth quarter end of 2007.

Annual sales increased 36 percent to $213 million, largely due to a 27 percent rise to $199 million in casino and poker revenues.  50 percent of 888’s sales have been wiped out by the US ban, so it’s a great effort by the firm that annual sales have still increased despite this.

Chief Executive of 888, Gigi Levy said, “This was a transformational year.  These are very good results that we think show our strategy is developing.

“We have continued last year’s positive momentum into the first quarter with the launch of our own new bingo brand 888Ladies, which is already showing hundreds of new customers recruited daily since launch in early February.”

Richard Carter, an Analyst at Numis Securities in London, commented on 888’s fourth quarter by saying, “Casino was the star.”