Online casino and poker operator 888 Holdings PLC announced a healthy rise in profit for the 2005 fiscal year, driven in part by astounding growth on the company's online poker front. 888 Holdings boasted a 59 percent rise in after-tax profits for the year, with gamers running to the 888-brand Pacific Poker and its online casinos, Casino-On-Net and Reef Club Casino. This growth has a good deal to do with the success of 888's online poker operations, with Net Gambling Revenue (NGR) for poker rising 179% to $109.8 million. This figure is indebted in part to the 2.3 million newly registered poker member accounts that were opened.

John Anderson, CEO of 888 Holdings, commented on the company's performance, saying, "We have announced record results today. We continue to grow whilst keeping our costs under control. Our company is more diversified both in products and geographically and we are in prime position to benefit from the industry consolidation that is inevitable... I am extremely proud of our brand and management, which will be key to our continued success."

Source:  Poker777 Staff

Friday, 17 March 2006