888 Holdings has had an unforgettable 2011 with profits almost doubling. According to a report in Reuters the company recorded these impressive figures which were helped by their strong poker and online casino growth.
A company spokesperson stated that 888 Holdings plans to invest in other parts of Europe and the U.S. With the online gambling market opening up both in Europe and the U.S., the potential to expand their brand is unlimited.
Online scratch cards have been singled out as one of the key growth markets in both Europe and the U.S. This is largely due to the global scratch cards games appeal. With the global recession still with us, affordable gambling like that of scratchcards is a win win proposition for both players and potential “scratch card site” operators.
With cash strapped online gamblers, the notion of affordable yet rewarding gambling like online scratch cards is seen as the ideal drawing card for potential online gamblers.
Added to this are consumer surveys which point out a clear trend amongst many Britons. More and more Britons are choosing to stay at home, watch the telly and most interesting gamble online. The current economic recession is largely responsible for this new lifestyle change.
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With the explosion of mobile scratch cards apps being directly available on all smartphones and tablet devices, many choose to take control of their financial spending habits by scratching and wining whenever and wherever it suits them.
The mere fact that one can enter the mobile scratch card world at the touch of a button without having to leave your house is a major factor contributing to the scratch card popularity and growth.
In 2011 888 Holdings’ earnings rose over 94% to $55.6 million while revenues increased substantially by 26% to $331.1 million.
Another major competitor of 888 Holdings’, Ladbrokes also posted strong profits for the year with an increase in gambling machine sales.
888 and Sportingbet were both involved in talks of a takeover from Ladbrokes which in the end did not materialize.
This even led to reports that this was the reason that their former CEO Gigi Levy left last year in April as a result of the Ladbrokes turnover not materializing.
As to be expected 888 shares rose 4% since last month’s optimistic company forecast and were trading up by an impressive 5% at 62.5 pence on the London Stock Exchange.
The 888 Group also operates the highly successful 888Play.com scratch cards online site. This site offers the latest scratch cards games as well as slots, instant win and casino games.
888Play is powered by NeoGames and offers online scratch cards fans the chance to win up to £1,000,000 in the Jackpot Prizes.