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The impressive Q1 reported by 888.com for 2008 is largely due to their successful online casinos.  888.com online casinos delivered 35 percent net gaming revenue gain over last years first quarter.  Overall group performance was already impressive without the helpful numbers from the online casinos; net gaming revenues saw a rise of 38 percent to $64 million.  Q1 of 2007 had a net gaming revenue of $47 million.

Online casinos produced NGR of $35 million for 888.com.  Last year online casinos produced a gain of $21 million in the first quarter.  Poker NGR increased 5 percent to $22 million.
 
According to a company statement, the NGR from online casinos was in line with the “exceptionally high casino performance” in the fourth quarter of 2007, while poker NGR increased 2 percent on last years first quarter.

888.com did not appear to be affected by the traditional seasonal downturn in business usually experienced in the first three month of the year.  CEO Gigi Levy has revealed that growth has continued well into Q2 of 2008.
 
“We are delighted with our Q1 2008 results especially given that we achieved further growth in the quarter well above the unusually high Q4 2007,” said Levy. “Our growth has continued into Q2, driven particularly by Casino and Bingo and so far we have not experienced any impact of the historically quieter seasonal period.”

“Our various business initiatives are progressing well and we are therefore confident in delivering future growth during 2008.”
 

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