Gaming firm 888 cheers profitable fourth quarter

ONLINE gaming group 888 announced a profitable fourth quarter yesterday, and vowed to expand as the gambling market boomed.

The company reported $68m (£43.2m) profit during the three months to 31 December, a 14 per cent increase on the same period in 2008, and a 12 per cent rise on the previous quarter.

Chief executive Gigi Levy said that he was pleased with the return to strong trading, and impressed by the continued growth of business-to-business arm Dragonfish.

He added: “Our positive momentum continues into 2010 and we expect to grow the business further during the current year.”

Levy has also indicated that the company is looking at bolt-on acquisitions after buying up Wink Bingo in December for around £60m.

Shares in the firm, which have lost almost seven per cent of their value over the last twelve months, added one per cent to close at 103.5p.