Ladbrokes Poker
Online gaming company 888 holdings reported yesterday that they are confident that their rival Ladbrokes might take over their business following the improvement in the revenue of the business, per records of the fourth quarter.
There are however revolving rumors that Ladbrokes might not make the deal because the numbers are not as interesting. It has also been rumored the Lads have walked away from the deal due to lower bid.
Despite contradicting claims from various sources, the 888 holdings are hopeful about the take over talks. They continue to state that talks are progressing in the positive site.
The rumors might be probably based on the history of the business where they suffered a set back in the mid of past year. The poker business did not do any better and revenues in the third quarter were not fruitful as expected. Following the throw down, they have worked enough by launching effective marketing strategies after which the poker section amassed massive profits and so did the bingo section of the site.
The fourth quarter revenue after the launch of the marketing plan touched 71million USD, which is approximately 44 million British Pounds. This is 18 percent more than the income they received in the past quarter beating all analyst prediction about the probable revenues after the work out of the new marketing strategy.
Before the current quarter, the shares of the 888 holdings also went down by a shocking 58% due to decline in demand for online poker in the past 12 months. These negativities might be one of the factors that back the idea that the Lads have walked away from the deal.
Despite all Chief executive Gigi Levy remarked: “Our marketing activities have driven record numbers of players to our sites, and growth was achieved across our business lines. We are very pleased with the results delivered during the last quarter of 2010, especially the record 18 per cent quarterly sequential growth.”
The executive is quite confident in that negotiations with Ladbrokes are smoothly flowing without any obstacles interfering in the deal. We are waiting more affirmations about the situation.
Tags: 888 Holdings, Poker, Rival Ladbrokes