888.COM'S ITALIAN ONLINE SPORTSBOOK GOES LIVE
19 October 2007
Online gambling giant enters the Internet
sportsbetting arena
888.com CEO Gigi Levy hinted at it in his opening
address to the EiG conference in Barcelona recently, and
this week it has come to fruition - the entry of the
Gibraltar-based online gambling giant into the Internet
sportsbook arena in Italy.
The new Italian website started taking bets this week,
and is part of a longer term expansion strategy reports
the Reuters news agency, quoting Levy as saying: "It
will boost revenues but it will also build customer
numbers so we are in a good position next year when
skill games we are strong in, like poker, are allowed."
Analysts estimated that the sports betting site could
bring in revenue of around GBP 2.46 million ($5 million)
to $10 million in 2008.
Levy added that the Italian market would be one of the
firm's big areas of focus over the next two years.
Under the influence of European lawmakers, Italy is
slowly opening up its gambling market and despite
originally opposing Internet betting, the Italian
government has since said it will allow games of skill.
Firms are waiting to find out what will fall under the
term "skill game" as opposed to a "game of chance", with
analysts putting their money on poker tournaments being
approved but a ban kept on one-off games. The Italians
are expected to have finalised a firm definition before
the end of 2007.
Online Casino News courtesy of
InfoPowa
More news here.
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