Poker News

Gaming firm 888 said today online poker had made a spectacular comeback.

The company was forced to issue a profits warning earlier this year as the World Cup hit revenues across the industry.

But 888 Holdings today revealed it has seen a double-digit boost in revenues during August as poker players flocked back to card rooms.

The firm, which runs casino, bingo and sport-betting websites,  reported a 43% fall in pre-tax profits to £5.4 million in the six months to June, in line with expectations.

But it claimed demand for poker had since returned, with a 15% rise in poker revenues in August, returning to normal levels for the time of year.

Chief executive Gigi Levy said: "The market has been challenging on a number of fronts, from the weak economic environment and overall poker weakness to the impact of the World Cup on poker.

"Our decline was roughly in line with general online poker trends."

888 said it hoped new software and a new 3D online casino would tackle a decline in interest seen across the market.

The number of poker players dropped industry-wide by 25% between January and July, which worsened during the World Cup. Revenue was also hit by a weakness in the euro and pound.

Mr Levy said the firm is also considering potential mergers - following the news that PartyGaming and Bwin are to join forces.

He added: "We look at consolidation as one of the possible routes to realising our full value. We feel that longer term this is the direction the industry will take."