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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)
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.”
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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