Online gambling is one of the fastest growing gambling industries in the world today, especially the mobile gambling sector. This is why so many gambling operators are starting to enter the newly legalized markets in order to have a share of this multi-billion industry. One of these companies is 888 Holdings that entered the internet gambling markets of Spain and Italy once they were legalized. This proved to be a very smart move as 888 Holding has stated that the expansion in the market of Italy and Spain and the growth of mobile gambling has caused a thirteen percent increase in the annual revenues of the company in 2012.
This was stated by the company which offers online poker and online casino gambling to both markets last Monday. It stated that the revenues for the 4th quarter have increased by seven percent as it reached 61.7 million pounds, which is equivalent to $97 million. As for the revenues of the entire year, it also witnesses a great increase and reached $376 million.
The chief executive of 888 Holdings, Brian Mattingley has stated that this amazing performance and success in the markets of Italy and Spain proves that tapping into these markets was the right decision. It also shows that 888 in Italy has the appropriate technology and the products that will help it enter new markets and excel in them as well. He also added that the company is looking forward to achieve this great success in other regulated territories around the world. He finished his statement by saying that 2013 has a great strong start and that they expect that success to continue throughout the year.
In December of last year, 888 Holdings stated that it would join Facebook in the UK in order to allow online players on Facebook to enjoy real money gambling. This included slot machines, casino games and bingo. Although this new agreement has boosted the shares of 888 significantly, it has raised a lot of concerns that it would tempt children into online gambling. In the past, before such agreement, social players were able to play such games for virtual points instead of real money.