888 in 2011

British online gambling giant 888 Holdings Plc said this week that it expects its 2011 core profits to finish well above market expectations, thanks mainly to growth in its casino and poker business divisions.

888 said in a statement from its Gibraltar headquarters that its performance in the past two months has been very strong, and that it was updating its earning predictions for this year from the initial estimate of $35 million to the new gigure of $51 million.

The online casino, poker, sports betting and bingo operator said it intends to invest heavily in newly-regulated European Union markets, which collectively offered the possibility of around 80 billion euros in revenues each year.

Spain and Italy were at the forefront of EU regulation this year, with both countries opening up their gambling industries to outside competition. 888 recently set up local sites for those two countries, both of which are already proving to be hits.

888's announcement comes as updates from other online gambling firms show that British consumers are staying at home more, gambling more online and watching more television as the UK threatens to slip into a recession.

Britain remains among the largest consumer bases for 888 and rival internet gambling providers like William Hill Online, Ladbrokes and Betfair, so as long as Britons keep going online in search of gambling, 888 will continue to grow.