888 Poker Sees Massive Growth in 2011

888 Poker Sees Massive Growth in 2011 February 8, 2012 Mario Alfonsi
by Mario Alfonsi  |  Published on Feb 8, 2012  |  Updated on Feb 8, 2012

While 2011 was a year of turmoil for the online poker world, at least one major gambling company saw major gains in that sector. 888 Holdings, the online gambling firm that operates 888 Poker (as well as online casinos, bookmakers and bingo halls under similar names), saw a 58% increase in their year-over-year online poker revenues, helping to significantly boost their overall profits.For 2011, 888 brought in around $61 million in poker revenue. That helped overall revenues rise about 26% year-over-year, to a total of $331 million. Gains were strong throughout the year, with fourth-quarter revenues up 28%.Of course, it wasn’t just poker that made 2011 a good year for 888 Holdings. Their online casino revenue also increased substantially, rising 27% to about $148 million for the year.But the biggest long term growth market for the company appears to be poker. According to PokerScout.com, 888 Poker network is one of the largest poker rooms in the world, sometimes having enough traffic to rise as high as fourth during peak hours (behind only giants PokerStars, PartyPoker, and the iPoker Network).In addition, 888 has made arrangements with Caesars Entertainment to provide the company with online poker software. Caesars could be a major player in a regulated USA online poker market, allowing 888 to expand their business to the other side of the Atlantic.However, several analysts told The Financial Times that while 888 Holdings certainly had a good year, it’s uncertain how the company will fare in coming years. Like most online gambling companies, changes in government tax structures or gambling regulations could have a dramatic impact on their business, for instance. In addition, upcoming major sporting events could change wagering habits among players.“The next 12 months hold some uncertainty,” said Ivor Jones and analyst at Numis, “the impact of the Olympics and the Euro 2012 competition on players in particular.”

Hi Poker Enthusiasts.. My name is Mario, and I have been around the poker scene for the last 15 years, and is a dear passion of mine. I will be bringing you the best the poker world can offer in terms of news and offers