REFILE-UPDATE 1-Growth in Spain and Italy boost 888 revenues

Mon Feb 4, 2013 3:53am EST

LONDON Feb 4 (Reuters) - Online gaming company 888 Holdings said expansion in Spain and Italy and growth in business on mobile devices had helped to drive a 13 percent rise in annual revenues last year.

The online casino and poker company on Monday said fourth quarter revenue rose 7 percent to $97 million, while 2012 revenues jumped to $376 million.

"Our success in Spain and Italy shows that we have the right product and technology led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories," chief executive Brian Mattingley said.

"2013 has started strongly and we therefore remain confident of future growth."

In December 888 said it was teaming up with Facebook in Britain to allow players on the social media site to use real money for bingo, casino and slot games. Players on the site had previously played only for points or fun - what is known as social gaming.

The agreement boosted shares in 888, which has a market capitalisation of around 400 million pounds ($630 million), but prompted concerns it could tempt children into gambling.

888 is one of a number of companies with a licence to operate in the northern German state of Schleswig-Holstein, the only part of the country to open up its gambling market.


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