Tuesday, November 1, 2011 : INTERNET POKER OPERATOR CONTINUES TO BREAK PERFORMANCE RECORDS
 
888 group turnover up 42 percent y-o-y  and 10 percent improvement on previous record performance in Q2
 
Online gambling operator 888.com has posted another excellent quarter, reporting the highest quarterly revenue ever achieved in its history, helping to build an outstanding 2011 nine month performance with player numbers at record levels.
 
On current trading, management notes that the performance has been strong into the fourth quarter, and the expectation is that EBITDA for the financial year ending 31 December 2011 will be significantly ahead of current market expectations.
 
In its interim management statement Wednesday, 888 Holdings plc posted the following highlights:
 
* Group revenue US$86 million (Q3 2010: US$61 million), an increase of 42 percent year-on-year and a 10 percent increase compared to the record Q2 2011, led by B2C
 
* Revenue B2C US$74 million (Q3 2010: US$51 million), an increase of 45 percent year-on-year and a 12 percent increase compared to Q2 2011, reflecting strong increases in Poker and Casino
 
* Revenue B2C Casino US$37 million (Q3 2010: US$27 million), an increase of 41 percent
 
* Revenue B2C 888.com US$18 million (Q3 2010: US$8 million), an increase of 120 percent, driven by the continuing success of the Poker 6 platform
 
* Group revenue during the first three quarters of 2011 at US$240 million (2010: US$191 million), an increase of 26 percent
 
* Number of active customers B2C Casino and Poker at 442,000 (Q3 2010: 165,000), a 167 percent increase compared to Q3 2010
 
* As at 30 September 2011, 888.com had 10.1 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 24 percent since 30 September 2010
 
* Strong current trading continues into 2011 final quarter
 
Commenting on the results, deputy chairman Brian Mattingley said:
 
“The continuing focus on our core competencies has led to another excellent quarter, and the highest quarterly revenue ever achieved in 888.com history. Our compelling offering and successful marketing campaigns have helped to build on our outstanding first nine month performance and drive player numbers to record levels. Strength across all of our platforms leaves us well positioned for the future.
 
Trading has continued to be strong into the fourth quarter, and as such we expect that clean EBITDA for the financial year ending 31 December 2011 will be significantly ahead of current market expectations.”
 
Key Performance Indicators for Q3 included:
 
B2C
 
* Revenue B2C at US$74 million (Q3 2010: US$51 million), an increase of 45 percent
 
* Revenue B2C Casino at US$37 million (Q3 2010: US$27 million), an increase of 41 percent
 
* Revenue B2C Poker at US$18 million (Q3 2010: US$8 million), an increase of 120 percent
 
* Revenue B2C Bingo at US$13 million (Q3 2010: US$13 million), an increase of 6 percent
 
* Revenue B2C Emerging Offering at US$5 million (Q2 2010: US$4 million), an increase of 40 percent
 
* Number of active customers B2C Casino and Poker at 442,000, an increase of 167 percent compared to Q3 2010
 
* Number of active customers B2C Casino at 200,000, an increase of 173 percent compared to Q3 2010
 
* Number of active customers B2C Poker at 307,000, an increase of 166 percent compared to Q3 2010
 
* Quarterly revenue B2C per active Casino and Poker customer was US$126, a 40 percent decrease compared to Q3 2010, a result of significant expansion in new customer recruitment coupled with a significant, but slower, revenue increase
 
* Quarterly revenue B2C per active Casino customer was US$187, a 48 percent decrease compared to Q3 2010, a result of significant expansion in new customer recruitment coupled with a significant, but slower, revenue increase
 
* Quarterly revenue B2C per active Poker customer was US$59 a 17 percent decrease compared to Q3 2010
 
B2B division Dragonfish reported revenue at US$12 million (Q3 2010: US$9 million), an increase of 28 percent.
 
For the nine months ended 30 September 2011, 888 reported:
 
* Group Revenue up 26 percent to US$240 million (2010: US$191 million)
 
B2C
 
* Revenue B2C up 27 percent to US$205 million (2010: US$162 million)
 
* Revenue B2C Casino up 24 percent to US$106 million (2010: US$86 million)
 
* Revenue B2C Poker up 51 percent to US$42 million (2010: US$28 million)
 
* Revenue B2C Bingo up 13 percent to US$41 million (2010: US$36 million)
 
* Revenue B2C Emerging Offering up 32 percent to US$16 million (2010: US$12 million)
 
* Dragonfish revenue B2B up 20 percent to US$35 million (2010: US$29 million)
 
Current Trading
 
The strong trading during Q3 continued into October, led by Casino. Daily average revenue during the first 29 days of October was 5 percent higher than Q3 2011. As at 28th October 2011 the Group had US$71 million of cash and cash equivalents and US$43 million liabilities to customers.