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Strong Profits For 888

Thursday July 26,2012 : 888 HOLDINGS TURNS IN STRONG QUARTERLY RESULTS
 
Poker a star performer that bucks the trend
 
Online gaming provider 888 Holdings presented strong Q2/2012 results this week showing strong double digit growth across the board with the exception of its bingo offering and Dragonfish subsidiary.
 
Key Financial Highlights for the Q2/2012 period ending June 30, 2012 include:
 
-  Group revenue US$92 million (Q2/2011: US$79 million), an increase of 17 percent y-o-y
 
-  Revenue B2C US$80 million (Q2/2011: US$66 million), an increase of 21 percent y-o-y
 
-  Revenue B2C Casino US$41 million (Q2/2011: US$36 million), an increase of 15 percent y-o-y
 
-  Revenue B2C Poker US$20 million (Q2/2011: US$13 million), an increase of 59 percent y-o-y, primarily boosted by ongoing product improvements, targeted marketing and effective CRM
 
-  Revenue B2C Bingo at US$13 million (Q2/2011: US$13 million), stable y-o-y
 
-  Revenue B2C Emerging Offering at US$6 million (Q2/2011: US$5 million), an increase of 27 percent
 
-  As at 30 June 2012, 888 reports 12.1 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 26 percent since 30 June 2011- 
 
-  Number of active customers B2C Casino and Poker at 505,000 (Q2/2011: 342,000), a 48 percent increase compared to Q2/2011
 
   -     Quarterly revenue B2C per active Casino and Poker customer was US$121, a 14 percent decrease compared to Q2/2011
 
   -     Quarterly revenue B2C per active Casino customer was US$221, a 1 percent decrease compared to Q2/2011
 
   -     Quarterly revenue B2C per active Poker customer was US$53 a 3 percent decrease compared to Q2/2011
 
-  Dragonfish: Revenue B2B at US$12 million (Q2/2011: US$12 million), a decrease of 5 percent year-on-year
 
The company is upbeat on its performance in the newly regulated Spanish market and the strategic agreement it signed with WMS during the quarter (see previous InfoPowa report).
 
H1/2012 Results for the period ending June 30, 2012 include:
 
-     Group revenue up 21 percent to US$186 million (H1/2011: US$154 million)
 
-     Overall Revenue B2C up 25 percent to US$164 million (H1/2011: US$131 million)
 
-     Revenue B2C Casino up 20 percent to US$83 million (H1/2011: US$69 million)
 
-     Revenue B2C Poker up 72 percent to US$41 million (H1/2011: US$24 million)
 
-     Revenue B2C Bingo down 2 percent to US$27 million (H1/2011: US$28 million)
 
-     Revenue B2C Emerging Offering up 20 percent to US$12 million (H1/2011: US$10 million)
 
-     Dragonfish revenue B2B down 1 percent to US$23 million (H1/2011: US$23 million)
 
Brian Mattingley, Chief Executive Officer of 888 Holdings commented:
 
"While the second quarter of the year saw a return to historical seasonal revenue patterns, revenue increased 17 per cent y-o-y supported by targeted marketing campaigns and market-leading customer relationship management. We have the right product offering and back office capabilities to grow and sustain market share, as indicated by the success in building a significant market share in the newly regulated Spanish poker market."
 
The firm said the start of its third quarter trading is in line with expectation delivering average daily revenue during the first 24 days of July 10 percent above those recorded in July 2011.
 
It expects to see the effect of seasonality in the remainder of the third quarter, and the impact of the Olympic Games in London remains unknown.
 
As at 20th July 2012 the Group had US$64 million of cash and cash equivalents and US$45 million liabilities to customers.



Gambling News :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

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.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

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.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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