Another Online Casino Reports Losses

It just keeps getting worse for many online casinos. The poor economic performance in many countries is having a negative impact on just about every industry, including gambling.  Many people are forgoing wagering and instead, are saving and spending their money on more immediate needs and pressing manners. One site, 888.com, which has been especially hit hard, reported losses of 30%, a pretty substantial amount for the entire year of 2009.

In 2008, the site generated income of $74,000,000. In 2009, the figure dropped to $52,000,000.  It had a down fourth quarter but not substantially, only 2%. However, 2% drops each month can add up.

Not all of the news reported by the site was bad. While fewer players are playing, those that are, are spending more money.  Total operating income per active customer went up 5% for the quarter.

Source: Cardplayer.com

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