888 Holdings Produces Strong Q4 Growth

888 Holdings, owner of Pacific Poker, said that its fourth quarter sales from non-U.S. countries grew 12 percent in the fourth quarter of 2006.

Total non-U.S. revenue was $40 million, with poker accounting for almost half, at $18 million. Poker did quite well for 888, showing a 26 percent increase in non-U.S. sales. Overall, net gaming revenue dropped 39 percent on the quarter as a result of the company banning U.S. customers after the passage of the UIGEA, but the international growth is promising. The loss of American players cost the company over half of its revenue stream and a quarter of its workforce.

Late in 2006, 888 and Ladbrokes announced that they had come to agreement to have Ladbrokes purchase 888 for £490 million. Since then, there has been no real public discussion of the deal and nothing has been finalized.

Shares of 888 Holdings are currently down slightly, to just over 109p.

Originally published 7:44 AM Wednesday, February 14, 2007