888 announces cost-cutting

Eric Bianchi
August 31, 2010
1 Comment

888comIt comes as no surprise that a large number of online gambling companies offering poker went into hiding when the world cup started, petrified at what might await them were they to enter the badlands of South Africa. Gigi Levy, CEO of 888 holdings, announced that the company’s pre-tax profit fell 43% to US$8.4m (£5.4m) in the six months to June, compared with US$14.9m last year. Although, August saw poker revenues increase by 15%, Levy has still stated that cost cutting will take place. Does this mean they might have to take a few digits off the name and be called 666.com in the future? Will reach out to those oh so hard to reach Church of Satan worshipers. Read more.

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Tags: 888 Holdings, Article, Gigi Levy
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  • Gangstaboy13

    With the rivals PartyGaming and Bwin announcing a merger in July, 888 is seen as vulnerable to consolidation in the online gambling sector.