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In some cultures, the number 8 is the luckiest number there is. Case in point is China, where last year’s Olympic Games were held on the eighth day of the eighth month in 2008. But online, where the whole world is at your disposal, 8 can be anything from lucky to just another number thrown into the mix. But for 888.com last year, the company enjoyed three times the happiness with substantial expansion and total operating income up by 21 percent throughout the year to $263 million. (Specifically in 2008, 888 saw its net gaming revenue from casino products increase by 13 percent to $134 million.) 888 CEO Gigi Levy said that 888 demonstrated tremendous progress during 2008, especially considering experiencing a disappointing fourth quarter in 2007, where total operating income was down due to a volatile economy and adverse foreign exchanges. “The prolonged and deepening economic downturn meant unprecedented challenging trading conditions,” he said.
But 888 Holdings Public Limited Company - as it is known formerly - stands testament to the success of business fortitude within an adverse economic climate. It is still one of the world’s most sought-after online gaming companies. And as GOM readers have voted two years in succession, 888, licensed and regulated in Gibraltar, where it has its main headquarters and main operations, is in a league of its own, winning Top Casino for both 2007 and 2008. What makes it unique are its spectacular range of games, bingo, sportsbook, the fact it develops its own software, marketing, business development, back-office payment processing, risk management and personalised customer service.
What have been the biggest breakthroughs at 888 over the past year?
We are proud of many achievements in 2008, though the most important of them is the successful move from a B2C operator to a combined group including one of the world’s leading B2C operators and a leading B2B provider of software and services to major operators.
What has been the biggest hurdle to overcome?
With competition growing in the market, we had to accelerate our pace of innovation, which led us to move to B2B, to launch bingo (888ladies) and sportsbetting (888sport) and to integrate many new games into our offering. The need to do more, deliver more and innovate more was our biggest hurdle in 2008.
As much as you can disclose, what milestones are you striving for in 2009?
2009 will be a year of further expansion and innovation, which will see us growing both our B2C and B2B businesses. This will be based on additional games and offerings to customers, additional markets we will address, and a much better customer experience.
What sets 888 apart from its competition?
Undoubtedly our team. In my view, we have the best, most innovative and most motivated team in the industry.
Gigi Levy, CEO, 888 Holdings
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