Huge Profits for Online Gambling Group
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Gambling News> Gambling News Archive> 2006> September> Huge Profits for Online Gambling Group |
14 Sep 2006
The world's largest online gambling group has reported huge profits despite the uncertain legal atmosphere. The attempts in the US to enforce the ban on online gambling has not hurt the online gambling group in question.
The world's largest online gambling group has reported huge profits despite the uncertain legal atmosphere in the online gambling industry. The attempts in the United States to legally enforce the ban on online gambling has not hurt the online gambling group in question, whose profits rose by 47% in the first half of the year. The revenues of the online gambling group rose from $257 Million to $380 million. The group is equally confident about the second half of the year and is certain that it can overcome the legal barriers being placed in the United States.
The online gambling group is working with a business model that includes the development of new products, but also includes working outside of North America. The attempt to ban online gambling in the US has caused the group to focus its efforts outside the US. 14% of the online gambling group's revenue came from outside the US in 2005, compared to an increase in the first half of 2006 to 23% of the group's revenue.
The online gambling group in question owns and operates several online gambling sites, including poker, bingo and an exclusively non US sportsbook. It also owns the world's largest online casino. The online gambling industry, however, remains fragmented. Indeed, over 2500 gambling sites operate today. The online gambling group in question is considering acquisitions and mergers, but this is not its main agenda. The group continues to watch all the legal and regulatory developments affecting the industry.
