LONDON (Thomson Financial) – 888 Holdings PLC, the online gaming firm, said it is trading in line with expectations.
‘888 has made an encouraging start to the current financial year and continues to drive its business on the basis of its strategy — delivering more games, over more platforms to more customers worldwide,’ said chairman Richard Kilsby in a statement published ahead of the group’s annual general meeting.
‘This will sustain the company’s momentum as it moves into the seasonally quieter second quarter.’
The chairman noted that growth in 2007 to date has been driven by the rollout of products such as Blackjack in Poker, Crazy Blackjack and games tailored for target markets.
888 has also launched its Bingo product following completion, on May 16, of the acquisition of the online bingo business of Globalcom Limited.
This month also saw the group introduce a selection of Casino games which allows all Poker players direct access to Casino games coupled with the introduction of the new 888 BackGammon.
Shares in 888 closed Tuesday at 350-3/4 pence, valuing the business at 1.86 bln stg.
Earlier this year the group held takeover talks with Ladbrokes PLC. However, these were terminated in April amid speculation Ladbrokes was concerned it wouldn’t have been able to successfully ring-fence any liabilities or legal ramifications faced by 888’s previously US-facing operations.