According to recent reports, 888 holdings, an online gambling company, is looking to expand its operation into France and Italy. According to the Financial Times, France is the first place that the company will try to obtain a license. Once a market is opened up they will start to push harder into Italy, which is considered a great place for future growth.
It is likely that France is going to be the main focus over the next few months since it is starting its trek towards online gambling. The plan is to begin with smaller things like sports betting and poker but will eventually grow into areas such as bingo and even casino gambling. According to sources, 888’s CEO, Gina Levy, feels that the company has enormous plans for France and their plans for Italy are even bigger still. The company would like to enlarge their investments in the United Kingdom in addition to Europe as a whole.
Though the company’s operating income has decreased about 10% over the recent quarter, when compared to the same quarter the previous year, the current quarter is showing great promise. As it stands now, the daily revenues for 888 Holdings, as well as their player recruiting numbers have increased 8% this quarter when compared to last. According to analysts the firm is making marked progress but there is still reason for concern when looking at the prospects for trading.
