The online gambling group, 888.com has more then doubled their profits last year and they have started out 2008 strong after they were forced to reinvent their self in 2007. This was the first full year since online gambling was made illegal in the United States in October of 2006 and with the new law 888.com saw about 55 percent of their revenues disappear overnight.

But the recent figures show that they have recovered fast and have grown stronger over the last year. Alot of this has to do with their recent expansions into other forms of gambling and into different countries. They have expanded their operations in Europe with the launch of sports betting in conjunction with Rank's Blue Square division, a new bingo service called 888Ladies and the introduction of online Backgammon.

Chief Executive for 888.com, Gigi Levy said, "I am very pleased that we have now successfully completed the restructuring and repositioning of the business and have now delivered record results for the year both in terms of revenue and profit. Given the positive start to 2008...we are confident in delivering future growth during 2008".

Their total operating income rose by 38 percent to £217m in the year to end December with pre-tax profits jumping from £22.2m to £45.8m. 888.com is also paying a final dividend of five cents a share, which is higher then they had indicated earlier.







- 2008-04-08