Despite the common belief that online casino gamblers are cutting down on
their gaming sessions because of poor economic conditions, 888 Holdings said
that it was not the case at its online casino sites during the month of
September.
After releasing its third quarter report this week, 888 Holdings
showed that a poor exchange rate had affected sales significantly in September,
with revenue lower than in August.
Overall sales for the third quarter were still 25% higher than when compared
to a year ago, and 888 Holdings declared that sales had increased to $66
million.
888, which is the second largest UK-based internet gaming company, said that
although the third quarter performed satisfactorily (especially July and August,
which were declared "solid" months), its fourth quarter performance had started
off very slowly.
The Chief Executive Officer of 888 Holdings, Gigi Levy, said that the poor
exchange rate of the UK Pound to the US Dollar was responsible for 95% of the
drop in revenue during the month of September.
"The majority of the change we've seen in customer performance is exchange
rate driven," he said. "We haven't seen a significant change in customer
behaviour."
Revenue from 888 Holding's newest offerings performed the best, especially
its bingo and sportsbetting brands, where revenue doubled to $12 million.
All in all, Levy said that online casino gambling was proving to be more
resilient to global economic problems than land based casinos and betting
outlets.
