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888 Holdings has posted its H1-2016 results
ONLINE GAMING AND SPORTS BETTING DRIVE ANOTHER SUCCESSFUL HALF-YEAR FOR 888 HOLDINGS
Online gambling group continues to set new performance benchmarks.
Online gambling group 888 Holdings has posted its H1-2016 results, showcasing outstanding performances from both casino and sports betting verticals, and noting the following financial highlights:
* Revenue increased by 19 percent to US$262 million (H1 2015: US$220 million);
* B2C revenue up by 21 percent to US$229.5 million (H1 2015: US$189.6m);
* Casino revenue rose 31 percent to US$137.4 million (H1 2015: US$104.9m);
* Sport revenue increased by 63 percent to US$25 million (H1 2015: US$15.3m);
* Revenue from regulated markets was up 29 percent and now represents 63 prcent (H1 2015: 58 percent) of group revenue;
* Adjusted EBITDA up by 8 percent to US$44.1 million (H1 2015: US$40.9m); EBITDA increased by 36 percent to US$38.2 million (H1 2015: US$28 million) despite adverse currency movements of US$3 million;
* Profit before tax increased by 39 percent to US$27.8 million (H1 2015: US$20m);
* Interim dividend of 3.8¢ per share declared (H1 2015: 3.5¢ per share)
The group reported the following operational highlights:
* Strong Casino performance with active players in Q2 2016 up 35 percent year-on-year driven by premium content;
* Outstanding Sport growth boosted by successful Euro 2016 football, accelerated marketing investment and launching in new regulated markets (Italy and Denmark);
* Mobile driving growth across product verticals and accounting for 56 percent of UK revenue (H1 2015: 43 percent);
* Continued strong progress in Spain with full product suite driving revenue up 58 percent;
* Excellent momentum in Italy with revenue up 44 percent supported by the launch of Sport in Q1 2016;
* Continued encouraging performance in Denmark following successful launch in Q3 2015;
* Casino, Poker and Sport real money registered customer accounts up 7 percent at 21.9 million;
Group CEO, Itai Frieberger, reported to stakeholders:
"888 has delivered a very encouraging performance in H1 2016, driven by outstanding momentum at 888Casino and 888Sport where we achieved impressive revenue increases of 31 percent and 63 percent respectively.
"In line with our strategic focus we have made further excellent progress developing 888 in regulated markets and have grown regulated revenue by 29 percent against the prior year, reflecting strong performances in the UK, Spain and Italy as well as 888s recent successful launch in Denmark.
"888s continued success is built on our first class technology and core expertise in CRM, marketing and analytics. These strengths, along with the fantastic efforts of our highly skilled and dynamic team, mean that the business is in excellent shape to deliver long term sustainable growth.
"Trading in Q3 has started well with average daily revenue until 27 August 2016 15 percent. above strong previous year comparatives and 22 percent. higher on a like for like basis."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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