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Gigi Levy, the CEO of 888.com forecast in his opening address to the EiG conference in Barcelona recently, that the entry of the Gibraltar-based online gambling giant into the Internet sportsbook arena in Italy was imminent and this week his prediction became fact.
The new Italian 888 website started taking bets this week, and is part of a longer term expansion strategy, according to Reuters news agency, who quote Levy as saying: “It will boost revenues but it will also build customer numbers so we are in a good position next year when the skill games we are strong in, such as poker, are allowed.” Analysts estimated that the sports betting site could bring in revenue of around $5 to $10 million in 2008.
Levy added that the Italian market would be one of the firm's big areas of focus over the next two years.
Members of the industry are waiting to find out what will qualify under the term “skill game” as opposed to a “game of chance”, with analysts putting their money on poker tournaments being approved but a ban kept on one-off games.
The Italians are expected to finalize a clear definition before the end of 2007.
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