888 releases interim results

888.com, the world’s number one online casino and online poker room, has recently announced its interim results for the six months ending June 30 2006, this as Chief Executive Officer John Anderson revealed that he is going to relinquish his position and acquire a new non executive role in the company.Mr. Anderson’s announcement comes after heading the gaming company for six years. He will be assuming the role of non executive Director, while Chief Operating Officer Gigi Levy will be getting the position of CEO.

Based on a statement given to the media, Anderson said that, “As of 31 December 2006, I shall step down as CEO and take the role of non-executive Director. The current COO, Gigi Levy will succeed me as CEO. Gigi is an excellent, experienced individual who is more than capable of taking on this challenge. I am proud to have led 888, since 2000, through its formative years into the success it is today.”

Some of the more notable highlights from the company’s release of its interim results is an increase of 88 per cent in the pre tax profit to $48 million. Alongside this, the net gaming revenues or NGR was up by 32 per cent to $163.5 million. The expansion efforts outside the United States is also doing well as it is up 48 per cent, with rapid growth in the NGR in the UK resulting in a 61 per cent increase.

Anderson has said that, “These are excellent results and represent a record performance of profitable growth. We have delivered on all our flotation goals, and trading during the first 10 weeks of Q3 is in line with management expectations and we are on track to achieve a satisfactory outcome for the full year.”