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STRONG H1-2012 FROM 888

Wednesday August 29,2012 : STRONG H1-2012 FROM 888
 
Dividend reinstated as internet gambling group surges forward
 
888 Holdings plc has released a strong set of half yearly results, highlighting:
 
* Interim dividend reinstated at 2.5 cents per ordinary share
 
* Revenue up 21 percent to US$186 million (H1 2011: US$154 million)
 
* 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 Bingo declined 2 percent to US$12.3 million.
 
* Remarkably, revenue B2C Poker up 72 percent to US$41 million (H1 2011: US$24 million)
 
* EBITDA up 81 percent to US$36 million (H1 2011: US$20 million)
 
* EBITDA margin increased to 19 percent (H1 2011: 13 percent)
 
* PBT increase to US$30 million (H1 2011: loss US$15.5 million)
 
* Basic EPS increase to 7.2 cents (H1 2011: 1.0 cents)
 
The company reported increased investment in research and development, and in marketing up at US$13.9 million (H1-2011 US$12.9 million) and US$61.7 million (H1-2011 US$49.9 million) respectively.
 
Expenditure on gaming taxes and duties also rose dramatically to US$5.5 million (H1-2011 US$1.4 million).
 
Brian Mattingley, Chief Executive Officer of 888, commented:
 
“This has been an excellent first half of the year. The tremendous increase in customer numbers caused by the improvements in our product offering has led to these record results, with the highest revenues in the history of 888.
 
"On the back of this performance, the Board has decided to reinstate the interim dividend, while we retain the cash necessary to continue growing the company.
 
"The second half of the year will see increased investment in Spain, where we will attempt to build on our impressive market share, and also in the United States, where we are preparing for regulatory changes. We will also continue to invest in our technological platform, the cornerstone of our offer, and make improvements to our mobile channel.”



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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