International edition
September 20, 2020

888 profits rise despite UIGEA

888 profits rise despite UIGEA

(UK).- Online gaming company 888 Holdings said that first-half earnings more than halved after online gambling was effectively banned in the US, but said the second half of the year had begun well and it was expanding elsewhere in the world.

T

he company said it signed an agreement with Tower Torneos International, one of Latin American leading poker brands, under which Tower Torneos’ poker offering will use the 888 poker platform and will be supported by 888’s operational capabilities.

Net income for the six months ended June 30 dropped to us$ 27.4 million, compared with us$4 2.7 million in the same period a year earlier, the company said in a statement.

President George W. Bush last October signed legislation effectively banning online gaming as part of a bill designed to improve port security.

After that, "we had to enhance our local focus quickly," 888 said. "Through the first half of the year we introduced new casino games in all the 12 languages we support." The second half "has started strongly, with record turnover in July 2007 which is a very strong result in traditionally one of the seasonally weakest months of the year," 888 said.

Under the agreement announced Monday, Tower Torneos customers will have full access to 888’s Casino, Bingo and BackGammon offerings, and the companies will work together to develop a series of online games relevant to the Latin American market.

The partnership is expected to "deliver a significant amount of new players going forward to strengthen 888’s poker liquidity," the company said.

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