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888 STILL IN TALKS WITH LADBROKES

Written On  3/31/11 By Lenny Wasman :

Steep decline in 2010 performance as pre-tax profit drops to $15.1 million
 
Acquisition negotiations between 888.com and the UK land and online gambling giant Ladbrokes are still ongoing, according to 888's newly released results for 2010.
 
The decline in performance experienced by 888 last year will concern investors, with EBITDA down 37 percent to $28.6 million despite revenue growth of 6 percent to $262.1 million.
 
Management cited falling poker revenues in H1 and higher marketing spend as contributory factors.
 
B2C revenue was up 13.5 percent to $221.7 million (2009: $195.4 million).
 
B2B Revenue was down 21.2 percent to $40.4 million (2009: $51.3 million), but up 4 percent on a pro-forma basis.
 
Pretax profits were down at $15.1 million from $34.6 million.
 
As at 31st December 2010, 888 had 8.7 million casino, poker and sport real money registered customer accounts, representing an increase of 23 percent since 31st December 2009.
 
Agreement has been reached with Wink Bingo vendors on the extended payment of the acquisition earn-out.
 
Negotiations with Ladbrokes have been ongoing since December, but the company reported little in the way of concrete progress, advising only that a further announcement would be made 'when appropriate.'
 
Reuters news service reports that 888 is 61 percent owned by the founding Israel-based Shaked and Yitshak families and any takeover would need their support.
 
Commenting on the year past, chief executive Gigi Levy said: "Following a challenging start to the year 888 finished 2010 strongly. 888 has begun the year with strong current trading and continues to make good progress across all segments of the business. "888 has begun the year with strong current trading and continues to make good progress across all segments of the business. We have an exciting base on which to build in 2011, with a high proportion of sustainable locally regulated earnings and a well diversified business, product line and geographic revenue stream. We expect that soon to come further improvements in our product offering will lead to increased success in driving players to our sites and retaining them going forward. This, alongside our expanding licensee base within Dragonfish, puts us in a strong position for the future."



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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.

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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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