0
$ £

888 Releases Third Quarter Results

Online gambling company 888.com has announced its third quarter financial results, showing the highest quarterly revenue in the company's history.

Commenting on his company's results, 888 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’s 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 financial indicators for the third quarter were:

  • Revenue B2C at US$74 million (Q3,2010: US$51 million), an increase of 45%

  • Revenue B2C Casino at US$37 million (Q3,2010: US$27 million), an increase of 41%

  • Revenue B2C Poker at US$18 million (Q3,2010: US$8 million), an increase of 120%

  • Revenue B2C Bingo at US$13 million (Q3,2010: US$13 million), an increase of 6%

  • Revenue B2C Emerging Offering at US$5 million (Q2,2010: US$4 million), an increase of 40%

  • Number of active customers B2C Casino and Poker at 442,000, an increase of 167% compared to Q3,2010

  • Number of active customers B2C Casino at 200,000, an increase of 173% compared to Q3,2010

  • Number of active customers B2C Poker at 307,000, an increase of 166% compared to Q3,2010

  • Quarterly revenue B2C per active Casino and Poker customer was US$126, a 40% 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% 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% decrease compared to Q3,2010

B2B division Dragonfish reported revenue at US$12 million (Q3,2010: US$9 million), an increase of 28%.

For the nine months ended 30 September 2011, 888 reported:

  • Group Revenue up 26% to US$240 million (2010: US$191 million)

B2C

  • Revenue B2C up 27% to US$205 million (2010: US$162 million)

  • Revenue B2C Casino up 24% to US$106 million (2010: US$86 million)

  • Revenue B2C Poker up 51% to US$42 million (2010: US$28 million)

  • Revenue B2C Bingo up 13% to US$41 million (2010: US$36 million)

  • Revenue B2C Emerging Offering up 32% to US$16 million (2010: US$12 million)

  • Dragonfish revenue B2B up 20% to US$35 million (2010: US$29 million)

Share this