Online bingo gaining in popularity

Online bingo activity for PartyGaming, William Hill and 888 Holdings is going up according to research from H2 Gambling Capital. The trend for rising online bingo activity is also expected to soon spread to the continent where it is beginning to increase in momentum.

Manchester-based H2 Gambling Capital released the results of the research which predicts that revenues from online bingo will rise over 20% this year, and by the end of 2010 they will have reached $1.6 billion.

Online bingo has not suffered as much during the recession as other forms of gaming, and has shown a much greater resilience than traditional bingo halls. The director of H2, Simon Holliday, said that online bingo is in its “early growth phase” and that this was protecting it from the impact of the recession.

Bloomberg reported that William Hill’s revenue from bingo and skill games has risen 50% during the first half of 2009, whereas its traditional sales fell 1%. Bloomberg also quoted Gigi Levy, the chief executive officer at 888 Holdings, saying that “in a few years” he expects to generate $100 million annually from online bingo compared to the current revenue of $40 million.

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