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888 Holdings delivered a creditable performance in 2011

03/27/2012 : ONLINE GAMBLING GROUP RELEASES YEAR END REPORT
 
888 Holdings delivered a creditable performance in 2011
 
The publicly listed online gambling group 888 Holdings plc has released its annual financial report for the year ended 31 December 2011.
 
 Financial highlights include:
 
* Revenue increased 26 percent to US$331.1 million (2010: US$262.1 million)
 
* B2C Revenue increased 28 percent to US$284.2 million (2010: US$221.7 million)
 
* B2B Revenue increased 16 percent to US$46.9 million (2010: US$40.4 million)
 
* EBITDA increased 94 percent to US$55.6 million (2010: US$28.6 million)
 
* EBITDA margin increase to 17 percent (2010: 11 percent)
 
* On 31 December 2011, 888 had 10.6 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 22 percent since 31 December 2010.
 
Operational highlights reported by management included:
 
* Appointment of Brian Mattingley as interim CEO
 
* Implementation of a refocused strategy -  maximising revenues and expanding profit margins
 
* The successful launch of Poker 6; and the recent launch of Casino 50
 
* Successful launch in Italy
 
* Agreement with Caesars International Enterainment in the US - the first strand in a US-focused online strategy.
 
Breaking the numbers down, revenue sources looked like this:
 
* Casino up at $148 million (FY 2010: $116.9 million)
* Poker up at $60.6 million (FY 2010: $38.4 million)
* Bingo up at $54 million (FY 2010: $50.1 million)
* Emerging offering up at $21.6 million (FY 2010: $16.2 million)
 
Current trading has started out well in 2012; the first quarter of the year saw average daily revenues more than 2 percent above the strong Q4 2011 results, and average daily new customer recruitment is more than 15 percent up on Q4 2011.
 
Chief executive officer Brian Mattingley commented:
 
"I am delighted and proud to have officially taken the helm at 888. 2011 has been a phenomenal year for us, refocusing on our core product offer, and the success of our Poker 6 platform has delivered exceptional growth across all key metrics.
 
"We are more than ready to take advantage of liberalisation in the industry.  We have a unique position in the US allowing the launch of a real money offering immediately once either federal or state based regulation is finalised and upon licensing by gaming authorities.
 
"The promising start of 2012 demonstrates healthy growth over and above the strong Q4 2011 and underpins our strategy and expectations for 2012."



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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