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888 gets a kicking from the World Cup
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31 August 2010
The online gaming group, which also runs casino and bingo sites, blamed more eyes fixed on TV screens during the World Cup as well as a "challenging economic environment" on its 44% plunge in pre-tax profit to $8.4 million (£5.4 million) for the first half of the year.
888 is the latest firm to admit it felt the World Cup curse, after struggling nightclub group Luminar saw empty dance floors during July and blamed the football tournament for wiping 6% off sales.
Home Retail Group, which owns Argos, admitted it saw "nothing like the same demand" ahead of the 2006 World Cup in Germany.
The British Beer and Pub Association reported a sharp fall in beer sales after England's second-round exit from the World Cup, while listed cinema chain Cineworld blamed the tournament for its almost-flat half-year profit.
But some firms did benefit. Higher TV sales were reported by John Lewis, Tesco, and DSG, which owns Dixons and Currys, and sold 40% more TVs ahead of the tournament.
Fans too lazy to leave their sofas helped Domino's Pizza post higher sales, whilst Sainsbury's flogged an England-branded vuvuzela every two seconds of July.
Marks & Spencer's sale of merchandise like replica England suits helped it post a 4.4% rise in first-quarter sales.
Bookies were among the biggest winners: William Hill said the World Cup was "one of the best for bookmakers in 40 years", as patriotic punters lost money backing England.
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