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Market: LSE
Sector: Travel, Leisure & Hospitality
EPIC: 888
Latest Price: 70.50p  (2.17% Ascending)
52-week High: 83.75p
52-week Low: 28.25p
Market Cap: 245.43M
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888 Holdings
www.888.com

The 888 Group is headquartered in Gibraltar and owns Cassava Enterprises (Gibraltar) Limited, the company that operates 888.com. Cassava Enterprises operates under a license granted by the Government of Gibraltar.

888 is a market leader in the global online gaming industry.

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888 cancels dividend after dive in first-half earnings.

31st Aug 2010, 9:05 am 888 cancels dividend after dive in first-half earnings.

The internet gambling firm 888 Holdings (LSE: 888) has cancelled the dividend after 44 per cent dive in first-half earnings.

The company said it wanted to preserve cash for acquisitions, but it also admitted that the World Cup and the weak economy hit its online poker operations.

Adjusted pre-tax profits fell to $8.4 million in the first six months of the financial year from $14.9 million a year earlier.

"In order to continue investing for future growth, and to support potential acquisitions, the board has decided not to declare an interim dividend," chief executive Gigi Levy said.

Trading in August has been significantly stronger than in July, with a double digit daily revenue increase especially in casino and poker, 888 said in a statement.

Poker has seen an increase of more than 15 percent in revenue in August.

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