It seems theres life after the U.S. for top online gambling company 888 PLC.
888 PLC, parent company of Casino–on-net released an update on performance results this week, reporting that revenue from countries outside the US rose by 12%.
Revenue across the group increased by 7% in 2006, despite the US online gambling clamp down. Net gaming revenue for the year reached $290 million compared with $271 million in 2005.
It’s growing share of the market in the U.K. supplies a large chunk of the increased revenue.
The U.K. is part of a new strategic target market for the company in which increased advertising, marketing and product diversification are the key initiatives.
888 now has 3.6 million customers and it’s rumored that it is in discussions with Ladbrokes about a possible merger. The two companies have been in dialogue over the potential deal for some months now. Ladbrokes is understood to be looking at ways to protect itself from any possible future criminal liabilities if it acquires 888.
If Ladbrokes passes on the opportunity, there will be several other parties interested in the business. PartyGaming has previously been linked with 888. Its understood that 45 to 50 per cent of 888’s net gaming revenue is generated within the U.K.
