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Interim results are expected to be announced on September 10th. Since last October when a new law passed by Congress stopped US residents from making financial transactions with Internet gambling companies, online gambling companies have been struggling. Up until then, Americans had accounted for 55 per cent of 888's sales.
The Financial Times, in a review of the trading report, reported that although the growing popularity of online poker in the rest of the world boosted net gaming revenues by 19 percent to $47 million in the first quarter, 888 has been the subject of persistent bid speculation since October 2006.
The 888 group was in talks with Ladbrokes for six months over a possible acquisition, but the bricks-and-mortar gambling group abandoned talks with its online rival in April amid fears that its potential US legal liabilities could rebound on Ladbrokes sometime in the future. The 888 chief executive, Gigi Levi, said that the group would be looking at possible acquisitions of its own after the talks were terminated and in fact the group bought Globalcom's online bingo business for $43 million in April.
Last month 888 said that it had begun talks with US justice authorities in an attempt to lift the threat of any possible action against the company for its dealings in the US. There was no indication as to the progress of those talks in the group’s trading update released last week.
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