Casino News

Online Bingo Leads To a Rise in 888 Profits

Friday, 8 August 2008 - 12:13 (GMT)

The ever increasing rise in popularity of online Bingo games has contributed to the online gaming group 888 Holdings reporting a 36% increase in second quarter operating income.

After the US clampdown on online gambling two years ago the company, which is probably best known to gamblers for its poker and casino websites, saw a fall in its revenue. In an effort to redress this trend 888 holdings introduced new gaming products which included their bingo website.

The move into Bingo looks to be paying dividends for the company. Total operating income for the three months to June 30 rose from $51m (£26m) to $69m, with this success being largely down to the success of 888ladies.com - a bingo website dedicated to women and whose advertising campaign features comic Vic Reeves in drag.

The growing popularity in online bingo games is in stark contrast to the decline in fortune which is affecting bingo halls across the country. Large companies like Rank who own the Mecca bingo halls saw profits plummet by 17% in their bingo operation.

Bingo halls have been seen by many to be the predominant domain of the “Blue Rinse” Brigade and the traditional bingo halls are seemingly finding it difficult to attract younger clientele. Online that trend couldn’t be further from the truth. Most players who use online bingo sites are now young females with above average incomes, who find the easy accessibility and use of sites as an enjoyable leisure pastime.

Gigi Levy, chief executive, said bingo was the group''s fastest growing division, with revenues up fourfold to $12m in the past quarter. ”Bingo has performed extremely well, especially during the second quarter,” he said. ”This could be because the men were all watching the European football championship so the women went online instead.”

With ever growing advances in technology making the online gaming experience more enjoyable for the user the increase in use of online gambling sites looks set to continue.

After all it’s far more enjoyable and easier to be able to play a game of bingo whenever you want to rather than be tied down to a certain time of day or evening when a bingo hall is open-and that’s if you have one that you can easily get to-or to only once or twice a week if you cannot leave the house.

The convenience of online bingo definitely makes it more attractive to play than the traditional way. Wouldn’t you rather sit in the warmth and comfort of your own home in the evening with a drink in your hand while playing a couple of games of bingo, than have to go out in the rain and cold and travel to a half empty hall?

I know I would - and it seems like a large number of young females feel exactly the same.

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