888 Holdings Releases Fourth Quarter Results

This story was published more than 12 years ago.

Online gambling giant 888 Holdings plc has released its fourth quarter 2011 financial results which showed steady growth over the same period in 2010.

The company's key financial indicators for the quarter were:

  • Group revenue US$91 million (Q4,2010: US$71 million), an increase of 28% year-on-year and 6% increase on Q3,2011, led by B2C Poker and Casino, beating the previous records set in that quarter

  • Revenue B2C US$79 million (Q4,2010: US$60 million), an increase of 32% year-on-year and 7% increase compared to Q3,2011, continuing the strong momentum in Poker and Casino

  • Revenue B2C Casino US$42 million (Q4,2010: US$31 million), an increase of 34% year-on-year and 11% increase compared to Q3,2011 driven by strong customer recruitment and retention

  • Revenue B2C Poker US$19 million (Q4,2010: US$11 million), an increase of 76% year-on-year and 2% increase compared to Q3,2011, driven by the continuing success of the Poker 6 platform and effective customer retention activities

  • Revenue B2C Emerging Offering US$6 million (Q4,2010: US$4 million), an increase of 36% year-on-year and 9% increase compared to Q3,2011

  • Group revenue in full year 2011 reached US$331 million (2010: US$262 million), the highest on record, representing an increase of 26%

  • Number of active customers B2C Casino and Poker at 478,000 (Q4,2010: 283,000), a 69% increase

  • As at 31 December 2011, 888 had 10.6 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 22% from 31 December 2010

  • First strand in US strategy with Caesars Interactive Entertainment B2B deal expanded into the US market

  • New Casino product being released

  • Strong current trading continues into 2012 first quarter

Group Indicators showed:

  • Revenue US$91 million (Q4,2010: US$71million), an increase of 28%

  • As at 31 December 2011, 888 had 10.6 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 22% from 31 December 2010

B2C Indicators were:

  • Revenue B2C at US$79 million (Q4,2010: US$60 million), an increase of 32%

  • Revenue B2C Casino at US$42 million (Q4,2010: US$31 million), an increase of 34%

  • Revenue B2C Poker at US$19 million (Q4,2010: US$11 million), an increase of 76%

  • Revenue B2C Bingo at US$13 million (Q4,2010: US$14 million), a decrease of 7%, a result of a saturated and highly competitive UK online bingo market

  • Revenue B2C Emerging Offering at US$6 million (Q4,2010: US$4 million), an increase of 36%

  • Number of active customers B2C Casino and Poker at 478,000, an increase of 69% compared to Q4,2010

  • Number of active customers B2C Casino at 224,000, an increase of 81% compared to Q4,2010

  • Number of active customers B2C Poker at 318,000, an increase of 58% compared to Q4,2010

  • Quarterly revenue B2C per active Casino and Poker customer was US$126, a 14% decrease compared to Q4,2010

  • Quarterly revenue B2C per active Casino customer was US$186, a 26% decrease compared to Q4,2010, 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$58 an 11% increase compared to Q4,2010

Dragonfish B2B performance results were:

  • Revenue B2B at US$12 million (Q4,2010: US$11 million), an increase of 6%

Full year results were:

  • Group Revenue up 26% to US$331 million (2010: US$262 million)

  • B2C revenue B2C up 28% to US$284 million (2010: US$222 million)

  • Revenue B2C Casino up 27% to US$148 million (2010: US$117 million)

  • Revenue B2C Poker up 58% to US$61 million (2010: US$38 million)

  • Revenue B2C Bingo up 8% to US$54 million (2010: US$50 million)

  • Revenue B2C Emerging Offering up 33% to US$22 million (2010: US$16 million)

Dragonfish B2B end of year results were:

  • Revenue B2B up 16% to US$47 million (2010: US$40 million)

Commenting on his company's performance, 888 Holdings Deputy Chairman Brian Mattingley said "We are delighted with 888's strong performance over the last year and in particular Q4. Q4 revenue is the highest on record, and represents five consecutive quarters of revenue growth. Strong trading was led by an excellent performance in our B2C Casino & Poker, and is the successful result of an increased strategic focus on our core competencies and the stand out success of Poker 6."

"Current trading in January continues to be strong and the forthcoming launch of our exciting new Casino product provides yet another compelling offer for our loyal customer base. We believe our focused strategy, aligned with the selective B2B approach, will continue to drive growth in 2012."

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