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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 :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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