888-A Good Gamble

Online gambling group 888 Holdings (LSE: 888.L) has announced their rollout of new, innovative products has helped the company continue its encouraging start to the new year.

The company announced in an AGM statement they expect their first quarter momentum to continue on into the seasonally quieter second quarter.

Driving growth at the company this year so far has been the rollout of new products including Blackjack in Poker and Crazy Blackjack. An all-new Bingo product has also been launched after the company acquired the online bingo business of Globalcom.

In early May, 888 started offering online casino games from their Casino-on-Net

CasinoRoom $100 bonus

platform to poker players on the Pacific Poker platform, allowing these players instant, direct access to online casino games of their choice.

Analysts are predicting a positive future for the company, as it bounces back from a tough 2006, which resulted in 888 withdrawing from the US market following the UIGEA. Hemscott.com reported that Numis has announced a Buy recommendation for 888 Holdings, with one of the Numis analysts Richard Carter saying: “In our opinion, the group’s strong pipeline of new game and product development, improving trading momentum and ability to expand acquisitively given the cash balances are being currently undervalued by the market. In addition, we think 888.com remains an attractive bid target.”

Numis rates 888 shares a ‘Buy’ with a price target of 172p. Shares in 888 are currently trading at 112.7p (at time of writing).

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