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UPBEAT TRADING UPDATE FROM 888 HOLDINGS
July 12,2012 : UPBEAT TRADING UPDATE FROM 888 HOLDINGS
Strong trading in H2-2011 has carried over into the first half of 2012
The 888 Holdings plc online gambling group has published an update on its performance during the full year ending 31 December 2012, commenting that strong trading in the second half of 2011 has continued into the first half of 2012, driven by the on-going good performance of online casino and poker operations, the latter further boosted through achieving significant market share in Spain, where it is currently number two.
The delay in the introduction of the new regulatory regime in Spain, introduced in June 2012, resulted in a delay in marketing spend in the country, originally planned for the first half, the company reported.
In Germany, the introduction of federal taxation on sports betting has had negligible effect, given the size of the 888's sport betting business in the country.
The second quarter of the year saw a return to historical seasonal revenue patterns, but with increased profitability compared to Q1-2011.
Given the strong trading, a bullish Management expects EBITDA for the first half of 2012 to significantly exceed current expectations.
"In the second half of the year, margins will be slightly impacted by investment in marketing in order to secure a leading position in Spain, investment in infrastructure ahead of delivering announced deals in the United States and the unknown impact of the Olympic Games in London," a spokesman said Thursday.
"This means that, while H2 is expected to show slightly lower margins than the strong first half, EBITDA for the full year will be materially ahead of current expectations."
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.
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