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  • 888 Poker Reveals its 2011 Financial Reports

    Thursday, December 29th, 2011 by Nadia

888 Holdings, a leading gaming provider in the industry, released a statement recently revealing its current financial situation. According to the statement, the company performed well in 2011. The year end results are quite ahead of market expectations.

Despite Turmoil in Online Poker Industry 888 Holdings’ Year End Financial Report Looks Encouraging

The financial report revealed by the company looks quite encouraging, considering the turmoil which internet poker went through in 2011. In April, three poker sites in the industry were indicted by the US Department of Justice for violating the Unlawful Internet Gambling Enforcement Act. Charges of money laundering were also brought against the poker rooms. This finally led to the closure of one of the three sites. Although one of these poker rooms has got back on its feet, it cannot offer internet poker products within the United States.

The European market for internet gambling is highly lucrative. The amount of revenue generated last year was 80 billion euros. A key reason behind this encouraging result is a fear among customers regarding the possibility of a recession. Customers prefer staying at home and entertaining themselves by gambling online.

888 Poker Aiming at Operating in the US Market Once Legalization Bills are Approved

888 Poker has set its eye on the US market. Currently the American gambling market is unregulated. Quite a few bills regarding legalizing online gambling is pending with the Congress. The proposed regulations are currently being reviewed by the lawmakers. In order to enhance its offerings, 888 Poker has partnered with Caesar’s Entertainment Corp, a land based casino. 888 Poker is relying on the growth of the firm developing soon in the European and later in the US market.

Financial Situation at 888 Poker Likely to be Good in the Coming Year as Well

Considering the current financial state of 888 Holdings and the plans that it wants to undertake in the near future, the company is expected to do well in 2012. Quite a few new markets for internet poker are expected to open in 2012. This will provide major growth opportunities to 888 Poker. The company plans to invest in the markets that will be created and to build its market share. In a statement made by 888 Holdings, the company mentioned that similar to 2011, the year end report for next year will also be ahead of market expectations.

Known previously as Pacific Poker, 888 Poker is run by a reputed firm, 888 Holdings. The software employed by the poker site is called Poker 6. It offers impressive features like a 3D layout, improved search functions, high quality graphics and multi tabling options. Other impressive features offered by the software are hand history records and password protected Sit n Gos. A wide range of poker variants are played on the site. Some of these are Omaha, Texas Hold’em, Omaha Hi Lo and Seven Card Stud. The poker site runs attractive bonus programs too. These enable players to make money conveniently.

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