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LACKLUSTRE THIRD QUARTER FROM 888.COM

Online bingo the star of operations
 
Online gambling group 888.com unveiled its Q3/2010 and 2010 YTD numbers this week, showcasing a somewhat lack-lustre performance in which internet bingo appeared to offer the best bet.
 
Chief executive officer, Gigi Levy unveiled figures which showed:
 
- Group operating profit remained unchanged from last year at $ 61 million, including a 6 percent rise in B2C activities of $ 51 million.
 
- Online casinos revenues dropped 9 percent in Q3 2010 to $27 million (Q3/2009: $29 million).
 
- Online poker revenues dipped steeply by 34 percent to $ 8 Million (Q3/2009: $12 million).
 
- Online bingo proved the star with a 344 percent growth to $13 million over the quarter.
 
- The number of casino players in Q3 2010 grew by 8 percent to 73 000 over Q3 2009, but poker players declined by 5 percent to 115 000.
 
- Average spend per casino player was $ 362, and for poker players, $ 71 during the quarter.
 
 
Nine months to September 30 2010
 
- Total operating income across the group was up 7 percent at $191 million.
 
- Operating income B2B was up 6 percent at $29 million.
 
- Operating income on bingo activity turned in a good performance, growing by 356 percent to $36 million in the first 9 months of 2010.
 
- Operating income across the group B2C activities rose to $ 162 million over the nine months, or by 14 percent.
 
- As at September 30 2010 the group had 8.2 million players - an increase over YTD 2009 of 21 percent.
 
- Casino operations YTD brought in a 1 percent increase to revenues, reaching $ 86 million, whilst YTD poker operations showed a decline of 28 percent to $28 million.
 
As at September 30 2010 the group had $ 62 million available in cash and assets.
 
 
Operational Highlights
 
B2C
 
- Award of licence by Autorité de Régulation des Jeux En Ligne (ARJEL), the French Gaming regulator, to operate poker betting websites
 
- New Bingo B2C network launched in Sweden
 
- New Poker TV campaign launched in the UK showing strong new customer recruitment results
 
- Re-launch of £8,888,888 Pirates Millionaire free spin slot machine coupled with UK TV campaign
 
- Bingo TV campaign launched in the UK
 
 
 
B2B Division - Dragonfish reported the following achievements:
 
 - Free play World Series of Poker (WSOP) offering launched in the United States for Harrah's Interactive Entertainment (HIE), following the successful launch of a real money WSOP-branded site in the UK
 
- Agreement signed with Microgame for the provision of a comprehensive casino product to the Italian gaming market
 
- Joint liquidity poker network launched in France with Microgaming. The poker network now has three partners live, with a fourth to be added in coming weeks
 
- David Zerah appointed as Managing Director
 
 
Current Trading
 
Trading during October was stronger than the third quarter across all business lines. Average daily revenue increased by approximately 6%, led by poker showing a more than 16% increase. This revenue increase was driven by higher deposit levels and more active players, with a significant increase in new customer recruitment of over 20%.
 
This increase has been driven in part by the continued investment in 888's brands, with TV campaigns in Casino, Poker and Bingo in the UK.
 
Overall, current trading remains in line with the Board's expectations and the Board expects the trading performance for the current financial year to be in line with consensus forecasts.
 
 
Commenting on today's announcement, Gigi Levy, Chief Executive Officer, said:
 
 "We are pleased with the results achieved during the third quarter. Our business showed resilience during the historical seasonally weak summer period, with growth in Poker. The fourth quarter has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year."



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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