International Online Gambling Revenue Increases as US Comes Online
18 October 2013
Online gambling giant 888 Holdings is predicting a jump in revenue due to the number of U.S. states relaxing the ban on Internet gambling. The London-listed firm runs online poker and online casino sites internationally as well as performing operations in Nevada. In the coming weeks, it should also have an online premise in Delaware and New Jersey as the two states roll out their own Internet gambling programs.
888’s Chief Executive, Brian Mattingley, stated in an AP article, “In 2014, we should start to see some meaningful revenues come through.” With only three states currently in the pipeline, however, the size of the revenue boost may not be as substantial as investors hope for. “California is the prize,” said Mattingley, “We are working flat out to identify some quality partners out there.”
Despite slow growth in other sectors, 888 Holdings reported a 2% increase in revenues in the third quarter, keeping its trades in line with forecasted expectations.
In related news, Golden Nugget Casino has just been awarded a license to offer web-based gambling in Atlantic City–the second casino in New Jersey to be cleared for launch.Bally Technologies will be providing the technology behind GoldenNuggetCasino.com and GoldenNuggetPoker.com. The New Jersey online gambling market is expected to come online on November 26th.