888 Holdings which is the home of one of the UK’smost popular bingo sites 888Ladies bingo, have released their latest quarterly results showing discouraging figures. It’s not all doom and gloom though as January has shown encouraging signs for 888 Holdings.
The results may well be disappointing for 888 Holdings as a whole but Emerging Offering which includes 888Ladies Bingo was up 100%. Casino and Poker were down 19% and 25% respectively bringing in the Total Operating Income for Q4 down 8%.
The yearly figures were positive with Total Operating Income being 21% up for 2008. Registered accounts from players that played for real money were up 24% for the year.
CEO Gigi Levy of 888 Holdings said;”888 demonstrated tremendous progress during 2008 with 21% Total Operating Income growth despite a disappointing Q4. The prolonged and deepening economic downturn and volatile adverse foreign exchange movements meant unprecedented challenging trading conditions following the end of the summer holiday season.”
The recession does seem to be really making an effect on the gaming industry including online bingo. Figures for January do appear to be positive for 888 Holdings when being compared to December. Bingo, Casino, Poker and Live Dealer sectors are showing an increase.