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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."

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Gambling News :

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei, she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

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