Although it often seems that in comparison to the financial difficulties that many casinos in Las Vegas and Atlantic City are experiencing online casinos are fairing remarkably well in this challenging economy, things are not sunshine and roses for everyone. One online casino company has been hit a bit hard in recent months and it is 888 Holdings. With a decline in the revenue they normally are able to expect to come in through their consumer business. They have not been able to sustain their business at the level that they were previously able to hold steady at. It is undoubtedly the trying times of this bleak recession that has brought about such more numbers.In fact, 888 Holdings in not the only one of the many online casinos out there doing business that has come upon some rather tender financial situations. Across the entirety of Europe many of the top casino and gambling sites have dropped down from their normally robust business performance level. While this industry is accustomed to benefiting on an almost constant basis of some incredibly vibrant growth and expansion on every level. That has definitely slowed down in a notable way. The operating income for 888 Holdings in total has dropped to $45.1 million.

This is mostly because the month of March was a tragic mess for the company in general. Consumer spending has dropped and fewer and fewer casino players are coming on with healthy piles of disposable income to play with on these sites. This definitely makes a big difference in the bottom line for these kinds of companies. Not everything is going negatively however. Their division that focuses on business-to-business relationships is going strong and actually saw a wee bit of growth during the first quarter. That detail has caused everyone invested in the company’s performance to hold their chin up a little bit higher.

Tags: 888 holdings, recession

This entry was posted on Sunday, May 24th, 2009 at 4:53 pm and is filed under Online Gambling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.