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NewswireToday - /newswire/ -
Limassol, Cyprus, 07/25/2006 - The online gambling corporation 888 fails to reach the expected forecasts for the second quarter sales.
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Online casino organization 888.com, also known as Casino-on-Net, suffered losses today after a recent publicized report points that sales did not reach the expected forecasts during the second quarter of the year. 888.com is has one of the biggest online casino and poker roomes on the internet, serving more than 20 million players in various online games.
888.com Holdings PLC was already in a fragile position, after the recent legislation against online gambling passes on the US House of Representatives.
The organization operates online casinos software and websites that allow players from all over the world to compete in various online casino games such as poker and Blackjack.
In the past, the Israel based company has shown a consecutive growth in size and revenues, and in the second quarter of 2005 rose by 23%, a drop of 4% from previous quarter revenues. 888.com is considered one of the 10 best online casinos in the world, and such a drop in sales may affect the whole gambling industry.
Sources from the casino gambling group reported to worlds-best-online-casinos.com that "Overall trading for the first six months of the year has been in line with Board expectations with an encouraging first half despite the seasonally quieter second quarter which was additionally influenced this year by the World Cup".
Because of the recent regulations against online gambling sites operated outside the US made by the United States Department of Justice, as well as recent prosecution against major online betting group BetonSports, Victor Copeland of Worlds-Best-Online-Casinos.com states 888.com is expected to focus on markets outside the US in the near future. As of now, 67% of real money players for the first half of the year came from outside the US.
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