888 becomes the latest gaming company to disappoint investors as it suggested to the market that it expects full-year profit to be significantly lower than previously indicated. Its excuses relating to the World Cup seem rather poor and the share price has been somewhat volatile since the announcement dropping nearly 20 percent shortly after the news broke.
The online gaming giant defended the drop in trading results by pointing out that the World Cup would have a positive effect on the groups results and this would help reduce the impact that is being seen in the poor poker results. World currency effects have also had an adverse effect.

Questions will be asked as to why 888 did not foresee any negative effects it is claiming from the World Cup previously. As one of the biggest gaming companies this is not the first World Cup that the company has been in existance for.

The company has suggested that the interest around the World Cup is likely to keep players away from the online casino, bingo and poker gaming. 888 have also reported there has been an 18 percent decline in the daily average numbers of poker players using the group's sites between January and May 2010.

Bingosupermarket would comment that in our experience the World Cup does not have negative effect on Bingo. Games in which England play may have a slight reduction in numbers. Some operators report even when England play they have seen an increase. Generally it is the male population that enjoy football and many woman don't care that much for the sport. If there is ever a better time to get your bingo subsidised by your partner it is during a football game, especially when it's your national team.

888 has also blames the weakness of the Euro and British Pound against the US Dollar that is likely to further deteriate earnings this year. It is claimed revenues in May would have been $1.9 million higher had exchange rates been that of January. For the year to date currency fluctuations have adversely effected revenue by around $5 milion.

"The board has revised its outlook for the remainder of the year and now expects profit to be significantly lower than previous market expectations," the company said in a statement.