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Wednesday, November 09, 2005

Online Poker Is Growing - 888.com

The online poker industry is surviving all along and rising above the challenge, after PartyGaming's warning that business was slowing sending violent fluctuations in the stock market.

Online casino and poker room, 888.com, released a press release announcing a 56% increase in its online poker arm, Pacific Poker's overall 3rd quarter revenue. The PR also claims that the industry is growing as opposed to slowing down.

888's chief executive, John Anderson, said the economic forecast for the industry wasn't completely accurate."As we said to all the investors that asked that question, I thought that it was a company-specific issue and not an industry-specific issue, and I think that has been borne out to be correct."

888.com had a tremendous three months leading up to September 30, as it saw its revenue rise 56 percent to $70 million, while its poker room revenue's alone rose 178 percent to $29.5 million.

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