Surprise Profit Warning From 888 Casino

29th May, 2010

One of the best uk casinos online has this week announced to the City that it is expecting it's year-on-year profit to be much lower than exepcted, much to the chargrin of the markets.

Gibraltar based online casinos, poker and bingo group, 888 has made the shock announcement - which resulted in an immediate fall of nearly 13% in it's share price. Reasons for the drop in revenues were touted as being the soon to be 2010 World Cup, where customers will be focusing all of the attention of the pending football matches.

As with many of the major betting companies in recent weeks, 888 also said that there has been a significant drop in poker revenues - with 888 suggesting an 18% drop in the number of poker players so far this year.

Such falls in player numbers can be pinned directly to the US, were most companies have now adhered to the banning of US gaming - leaving the way clear for companies such as Full Tilt and PokerStars to clean up.

The final reason offered by 888 Casino was the exchange rates, which have been significantly cruel to overseas operators of late. 888 offered that the swing in rates from January this year to May has seen a drop of nearly $5m - just because of the money markets.