Online casino and sports gambling is a success story

Our first general casino news of this month must focus yet again on the continuing success of the online casino operators and associated companies. Another of the major online casino operators, 888 Holdings, which features on our recommended online casino list has recently announced excellent first quarter results with revenues up 9% to a record $103 million. Analysts are again putting this down to a wide range of good casino games and strong marketing through sports sponsorships. Another company which bases their success on good online casino games is of course Playtech, the online casino software supplier for many of the top online casino sites. Playtech have also recently reported first quarter results, which are again very impressive with revenues up 16%. Playtech are very much a company to watch because they are promising to invest in what Mor Weizer their chief executive describes as ‘strategic alternatives’, following the sale of their stake in William Hill Online which generated £423 million for capital investment. Talking of the online casino and online sports gambling business sector, we couldn’t help but notice that a number of the founders and owners of online gambling companies have established themselves firmly high on the recently published Sunday Times Rich List. Apparently Britain’s top ten internet gambling magnates are now all individually worth more than £100 million, with the founder of Bet365 Peter Coates and his family topping the list with an estimated wealth of £925 million. Apparently Bet365 are also one of the few online casino operators which continues to pay large tax bills to the British treasury, with many of their rivals based wholly overseas. Close behind the Coates family, Fred and Peter Done who operate Betfred now have an estimated wealth of £850 million with Ruth Parasol and Russ DeLeon the founders of Party Gaming close behind at an estimated £667 million. If ever we needed proof that the online casinos and their associated online sports gambling sites have proved a huge success, the rapid rise of these internet gambling magnates should be sufficient.