Internet gambling firm 888 has announced record profits for 2006, despite its US-facing operations being ruled illegal last autumn.
The company said today that in the 12 months ending December 31st its pre-tax earnings increased 34 per cent to $90.5 million (£45 million).
On September 29th, the unlawful internet gambling enforcement act (UIGEA) was passed by Congress, effectively ending all online gambling.
But while other firms have suffered financially as a result of a stateside pullout, 888's net gaming revenue was up seven per cent to $289.9 million on 2005, with revenue from continuing operations rising 28 per cent.
"2006 was a significant year for 888, not least because of the signing of the UIGEA bill, which meant we had to cease all activity in the US market – 55 per cent of our business," said 888 chief executive officer Gigi Levy.
"Against this background, I am delighted to report record financial results for 2006. Our continued success is based on the principle of providing our customers a compelling, localised, innovative unique customer experience."
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