|888 has announced its interim results for the six months ending 30 June 2006, as CEO John Anderson announces that he is to step down from his position into a non executive role.|
Mr. Anderson’s announcement comes after six years at the helm, and will see him take on the role of non executive Director, whilst COO Gigi Levy steps in as CEO. Anderson’s statement read, “As of 31 December 2006, I shall step down as CEO and take the role of non-executive Director. The current COO, Gigi Levy will succeed me as CEO. Gigi is an excellent, experienced individual who is more than capable of taking on this challenge. I am proud to have led 888, since 2000, through its formative years into the success it is today.”
Key highlights from the company’s interim results show an increase of 88 percent in pre-tax profit to $48 million, with net gaming revenues (NGR) up 32 percent to $163.5 million. Expansion outside of the US is up 48 percent, with rapid growth in NGR in the UK up 61 percent.
Anderson continued, “These are excellent results and represent a record performance of profitable growth. We have delivered on all our flotation goals, and trading during the first 10 weeks of Q3 is in line with management expectations and we are on track to achieve a satisfactory outcome for the full year.”