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888 Half Year Results 2013

Wednesday August 28,2013 : 888 DELIVERS A STRONG HALF-YEARLY PERFORMANCE
 
Good results driven by online casino and poker
 
Gibraltar-based online gambling group 888 Holdings plc continued to please investors Wednesday with a strong set of half-yearly results showcasing an impressive performance by its online poker and casino interests.
 
Financial highlights in the report included:
 
* H1-2013 revenue increased 7 percent to US$200.1 million (H1 2012: US$186.4 million)
 
* B2C revenue increased 8 percent to US$177 million (H1 2012: US$163.6 million)
 
* Adjusted EBITDA increased 7 percent to US$38.6 million (H1 2012: US$36 million)
 
* Adjusted EBITDA margin maintained at 19.3 percent
 
* PAT increased 205 percent to US$32.1 million (H1 2012: US$15.7 million)
 
* Adjusted EPS increased 37 percent to 9.9 cents per share (H1 2012: 7.2 cents)
 
* Interim dividend of 3 cents per ordinary share (H1 2012: 2.5 cents)
 
Operational highlights included:
 
* Strong performance driven by Casino and 888Poker:
 
* Casino up 13 percent to $94.1 million; Poker up 13 percent to $46.8 million; Bingo doiwn 18 percent at $22.1 million and emerging offdering up 13 percent at $13.9 million.
 
* Poker reached number four in global PokerScout rankings
 
* Excellent casino performance driven by CRM activity
 
* Agreement with Kambi Sports Solutions to develop 888sport app
 
* Mobile now fastest growing channel across all products representing 17 percent of UK revenue
 
* Excellent success in Spain and Italy with further growth opportunities
 
* JV agreement signed in March with Avenue Capital Group creating the All American Poker Network (AAPN) to launch comprehensive B2C gaming offering in US market upon regulation.
 
* Approval as Interactive Gaming Service provider by the Nevada Gaming Commission
 
Recent developments are listed as:
 
* Agreement signed in August with Caesars Interactive Entertainment (CIE) through the All American Poker Network (AAPN) joint venture with Avenue Capital allowing 888 to offer own-branded Poker and Casino products in New Jersey, subject to required regulatory approvals
 
Brian Mattingley, CEO of 888, described the results as "excellent" and noted that record revenue growth in H1 was driven by the continued strength of 888's core Casino and Poker products and its ability to maximise revenue through exceptional platforms and marketing systems.
 
"We are making good progress in new markets with tremendous success in Spain and Italy where we see further opportunities for growth," Mattingley said.
 
"These experiences have given us further confidence in our ability to capitalize on the exciting US opportunity which continues to develop and we believe our strategy and partnerships ensure that we are well positioned to maximize market share as that market becomes regulated."



Gambling News :

$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

Iforium In Partnership With Booming Games - Iforium, the leading provider of casino aggregation software, are pleased to announce a new agreement with Booming Games

PartyPoker Rakebak - Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.

NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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