Racing Post’s online flutter with 888 deal

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The horse racing newspaper will use its own brand to offer casino and poker deals to its army of loyal followers, with 888 providing the software and customer support.

Mark Renshaw, head of commercial online at the Racing Post, said: "This partnership is a crucial part of our overall online strategy, giving customers the best content available while growing revenue."

888 today unveiled results for 2008 showing that profits rose by 6% to £48.6 million. Revenue was up 14% to £135 million, although the poker arm itself slipped by 4% to £77 million.

Online betting has been one of the few areas of the economy that seems to have been immune from the recession, allowing 888 to again deliver record results.

Chief executive Gigi Levy thinks the company is doing well enough to embark on a share buyback programme. He is asking shareholders for permission.

The Racing Post offering should be launched in the next few months.

Today, 888 shares fell 61/2p to 106p.