888 Holdings and its subsidiaries Cassaver Enterprises (Gibraltar) Limited and Brigend Limited, operate principally under the name www.888.com. The company today published preliminary results for the year ended 31 December 2007, reporting profit before tax up 106% to US$46 million. Net gaming revenue was up 36% to US$213 million.

Commenting, Gigi Levy, CEO of 888 said: “2007 was a year of transformation for 888, in which we had to restructure our business following the enactment in the United States of the Unlawful Internet Gaming Enforcement Act in October 2006.” Fourth quarter growth was very strong and 2008 has started well for the company.

She added, “I am very pleased to report that we have now successfully completed the restructuring and repositioning of the business and have delivered record results for the year, both in terms of revenue and profit. This demonstrates the resilience of our business, the strength of our team and the continued attractiveness of our business model. With many strategic initiatives now underway, we see a bright future for the business.'

In his statement Chairman Richard Kilsby said that 888 has successfully re-focused its operations away from the US market with fantastic results. “Our success is manifested by our recent return to the FTSE250 and by industry accolades such as 'Best Betting and Gaming Company' at the Leisure Report Awards 2007, 'Casino of the Year' and 'Best Land - Links Partnership' at the eGaming Awards 2007 as well as 'Casino of the Year' at the Gambling Online Awards 2007.

“The year was marked as a year of innovation and initiatives - we have expanded our business model by offering our full service on a 'white label' basis to selected business partners as demonstrated by our strategic alliances with Rileys Poker in the UK and Tower Torneos in Latin America, obtained an online sportsbetting licence in Italy, introduced a targeted local offering in Asia through Live Dealer and released our first ever branded Video Slot Machines to name a few.”

After ten years of operation 888 sees 2008 as being another year of growth. Gigi Levy summed up, “Given the positive start to 2008, the successful launch of 888ladies and 888sport, our strategic partnership deals, current trading and our clear business strategy and focus, we are confident in delivering future growth during 2008.” (E-04.08.08)

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