14-02-2007 888 to offer sports betting services to its European customers

The online casino and poker operator announced its plan to launch a full online sports betting service late this year. The company was granted an online sports betting license in Italy in December 2006. 888 also said a further announcement regarding its discussions with Ladbrokes will be made in due course.

888 reported its cumulative results for the twelve months ended 31 December 2006, which saw a 7% increase in total net gaming revenue up to $290 million, while the company's non-US business reported a net gaming revenue of $157 million, up 28%. The number of real money customers increased by 35% to 3.6 million.

"Following our exit from the US market in Q4 2006, the company has worked hard to continue expanding its non-US business and we are especially pleased with the results released today and our performance in recent months," commented CEO Gigi Levy.

Elsewhere, Swedish Government-owned Svenska Spel posted a record profit of $685 million for 2006. The company's CEO Jesper Karrbink said the online poker site launched in March 2006 performed exceptionally well.

32Red confirmed that it will relocate its online sportsbook BetDirect from the UK to Gibraltar by the end of the summer. Development Director Ed Andrewes told The Gibraltar Chronicle: "32Red has always been fully based in Gibraltar since its launch in August 2002. We believe the Rock remains a leading jurisdiction for gaming and are pleased with the positive trading experience we have had so far."