Online gaming company 888 still hopeful for Ladbrokes deal
888's Q4 operating income rose 18 percent to $71 million led by poker
By CFOWorld.co.uk | CFO UK | Published 12:32, 07 February 11
Bookmaker Ladbrokes may still be interested in buying 888 following the online gaming company’s record fourth quarter results posted on Monday, 888 chief executive said.
888 Chief executive Gigi Levy told Reuters that the company was still hopeful that a deal could be reached.
"It's definitely not off the table. There is still interest on both sides in doing a deal. Every big deal has complexities, there's nothing which is a big sticking point. There's a variety of things like in any deal. We're trying to see whether we can tackle them or not," Levy said.
Total fourth quarter operating income for 888 rose 18 percent to $71 million (£44.11 million), led by poker which grew 28 percent. Income for the twelve months grew 6 percent to $262 million.
"We are very pleased with the results delivered during the last quarter of 2010 - especially the record 18 percent quarterly sequential growth,” said Levy in a trading statement released on Monday.
888 provides online gaming solutions directly to the consumer including poker, bingo, sport and social gaming, as well as providing software to other companies.
“2011 has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year," Levy said.
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