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Online Casino Profits Increasing |
| An article examining the fortunes of some of the biggest online casino companies in the world appeared last month in the British newspaper the Observer. While some online casino firms have recorded millions in profit in the last three years, the Observer found that sports betting firms are also enjoying higher profits and revenues as a result of relaxed gambling legislation in the UK and higher levels of computer proficiency amongst online casino and sports fans. While Party Gaming was predictably mentioned as one of the online casino industry’s largest and most successful ventures, smaller online casino operators such as Coral Euro Bet and Gala Casinos were also named among the leading profit makers. Sporting Bet and 888 Holdings also received a mention, with the most interesting floatation on the London Stock Exchange being awarded to online casino software provider Playtech, which looks set to make millions for its Israeli shareholding team. The Observer revealed that one of the most lucrative deals between online casino firms last year was the sale of Coral Eurobet to Gala Casinos. The firm is Britain's third largest bookmaker, which was valued at 378 million pounds sterling three years ago. Today the firm is owned by Gala Casinos and valued at 2.1 billion pounds. The online casino company is expected to float publicly toward the end of the year with industry insiders predicting that its IPO may well exceed over 4 billion pounds. |
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