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Online Gambling Giant 888.com Suffers Losses
After a recent publicized report points that sales did not reach the expected forecasts during the second quarter of the year, online casino organization 888.com posted losses today. 888.com, also known as Casino-On-Net, has one of the biggest online casino and poker rooms on the Internet, serving more than 20 million players in various online games.
The organization operates online casinos software and websites that allow worldwide players to play and compete in various online casino games such as poker and Blackjack.
After a recent legislation against online gambling passed in the US House of Representatives, 888.com Holdings PLC realized it was in a precarious position.
The Israel based company has previously shown consecutive growth in size and revenues and by second quarter in 2005 rose by 23%, a drop of 4% from previous quarter revenues. Considered as one of the 10 best online casinos in the world, 888.com, realized such a drop in sales may affect the whole gambling industry.
Reports from the casino gambling group, confirmed to worlds-best-online.com, that the overall trading for the first six months of the year has been in line with board expectations with a encouraging first half, despite the seasonally quieter second quarter which was additionally influenced this year by the world cup.
Victor Copeland of Worlds-Best-Online-Casinos.com stated that, in the near future, 888.com is expected to focus on the markets outside the US because of the recent regulations made by the United States Department of Justice against online gambling sites operated outside the US, in addition to to the recent prosecution against major online betting group BetOnSports. At present, for the first half of the year, 67% of real money players came from outside the US.