888 grows despite poker slowdown.(Breaking news)

With both 888 and PartyGaming reporting a slowdown in poker revenues over recent months, it seems clear that there has been a steadying of the previously booming market since the turn of the year, as new products and competition take their toll.

However, as with rival PartyGaming, 888's early decision to diversify and broaden its offering to customers looks to have paid dividends.

In an interim management statement covering the third quarter of 2008 and the cumulative figures for the nine months of the year so far, 888 reported Net Gaming Revenue (NGR) in Q3 up 23% to $66m (43m) [pounds sterling] (Q3 2007: $53m). Total operating income in the third quarter was up 24% to $68m, with NGR from casino operations 18% ahead at $34m and from emerging offering up 121% to $12m.

NGR from poker in the three-month period was stable at $19m.

During the first nine months of the year, total NGR gained 31% to $197m. Total operating income nine months rose 33% to $203m.

The period also saw the successful launch of the Littlewoods offering, following the strategic partnership with Sportech, while the Pacific Poker brand was released in four new languages: Russian; Latvian; Lithuanian; and Estonian; with seven further languages to be released shortly including: Japanese; Greek; Hungarian; and Czech.

Additionally, the 888sport brand was launched in Germany and France.