888 is a winner with Spain's punters
Friday 13 July 2012
Their country may be in recession with rioters on the streets, but the Spanish are tackling austerity by flocking online to play poker and fill the coffers of e-gaming company 888.
Investors piled into the shares as 888 flagged up profits "materially ahead" of City hopes this year on strong trading, sending the stock up 14 per cent to 74p.
The company is now the second-biggest player in the Spanish poker market after building "significant" market share as unlicensed operators are slowly squeezed out.
Spanish regulators granted 888 an e-gaming licence in May after a one-off payment of €7.4m (£5.8m).
Business will not be quite as bullish in the second half, however, as 888 ratchets up marketing spending in Spain, but it should comfortably exceed current forecasts of £46.5m in underlying earnings this year.
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 5 Israel's propaganda machine is finally starting to misfire
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Disney heiress Abigail disowns her share of family profits in West Bank company
'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
Drew Barrymore’s sister Jessica found dead in her car surrounded by 'dozens of white pills'
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...
£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...
£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...
£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...