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888 holdings plc Q2/2010 interim report

Q2/2010 highlights continuing success of online gambling software group
 
888 Holdings plc has released its Q2/2010 interim report and trading update, showcasing continued success in b2c and b2b activities over the quarter and the year to date.
 
Financial highlights include:
 
• Total Operating Income at US$61 million (Q2 2009: US$61 million), same level as Q2
2009
 
• As at 30 June 2010, 888 had 7.9 million online casino, poker and sport real money registered
customer accounts, representing an increase of 22 percent since 30 June 2009
 
• Total Operating Income B2C at US$52million (Q2 2009: US$48 million), an increase of
6 percent.
 
• Total Operating Income B2C Bingo at US$13 million (Q2 2009: US$3 million), an increase
of 372 percent.
 
• Total Operating Income B2C Emerging Offering at US$4.4 million (Q2 2009: US$4
million) an increase of 11 percent.
 
• Total Operating Income B2B at US$10 million (Q2 2009: US$12 million), a decrease of
24 percent, but a 3 percent increase on a pro-forma basis.
 
• Group Total Operating Income in H1 2010 at US$130 (H1 2009: US$118 million), an
increase of 10 percent.
 
• Total Operating Income B2C in H1 2010 at US$110 (H1 2009: US$94 million), an
increase of 18 percent.
 
The report points to the following Operational Highlights:
 
• Acquisition of Mytopia social games development studio from Real Dice Inc. completed,
extending 888’s reach and market share in the fast growing social networks and smart
mobile devices space
 
B2C
 
• Poker version 6 released following a complete re-coding of the software client with fresh
new look and feel and enhanced features, game play and user experience (see previous InfoPowa report)
 
• Brand new online store launched for poker players where they can convert loyalty points
into a wide range of gadgets and products
 
• Innovative first web-based (no download required) immersive 3D 888 casino launched,
enabling players to play casino games in a virtual world with lobby, roulette, blackjack and
high rollers rooms, with customised avatars
 
Dragonfish
 
• An agreement with Microgame S.p.A. for the provision of a comprehensive casino product
to the Italian gaming market
 
• An agreement with MTV Networks UK & Ireland to provide a bingo product, marking their
first step into online gaming
 
• Extension of existing agreements with Costa Bingo and Moon Bingo
 
• Launch of two new standalone bingo networks, with Cashcade (Rollover Bingo) and
Costa (Sing Bingo). Dragonfish now powers over 20 standalone bingo networks
 
Commenting on the report, CEO Gigi Levy said: “Trading throughout this period has been challenging, impacted by a number of factors including general online poker weakness, adverse F/X and, in relation to Poker and Casino, the World Cup. However, we have seen resilience in our emerging offering, especially Sport throughout the World Cup, and we continue to refresh our B2C offering to attract and retain players.
 
“We made the strategic acquisition of Mytopia late in the quarter, which gives us an immediate footprint in the fast-growing social gaming arena, complementing our core offering and giving us access to millions of new customers.
 
“Dragonfish has continued to win new contracts, such as the casino deal with Microgame in Italy and with MTV, as well as several contract extensions. I am delighted that we have appointed a new managing director to head up the business and, as the industry moves towards a greater emphasis on content and flexible solutions, his experience and contacts will enable Dragonfish to capitalise on the opportunities created.
 
“We see a challenging environment ahead, albeit one with opportunities created as new licensing regimes are implemented. We have been granted a licence in France and have a number of strategic partnerships lined up in Italy for both B2C and Dragonfish, and are optimistic about the future prospects in these markets – though these are likely to take time and investment to come to fruition.
 
“We remain confident in the underlying fundamentals of the business and believe that the transformation of 888 - and the industry - into a gaming entertainment destination regulated in local markets presents significant opportunities for growth.”



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

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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