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888 Reveals Strong Quarterly Results

Internet wagering group 888 Holdings has released its second quarter 2012 financial results, highlighting a strong performance company wide, save for its bingo games and Dragonfish subsidiary.

Key financial indicators for the second quarter ending June 30th were:

  • Group revenue US$92 million (Q2/2011: US$79 million), an increase of 17% y-o-y

  • Revenue B2C US$80 million (Q2/2011: US$66 million), an increase of 21% y-o-y

  • Revenue B2C Casino US$41 million (Q2/2011: US$36 million), an increase of 15% y-o-y

  • Revenue B2C Poker US$20 million (Q2/2011: US$13 million), an increase of 59% y-o-y, primarily boosted by ongoing product improvements, targeted marketing and effective CRM

  • Revenue B2C Bingo at US$13 million (Q2/2011: US$13 million), stable y-o-y

  • Revenue B2C Emerging Offering at US$6 million (Q2/2011: US$5 million), an increase of 27%

  • As at 30 June 2012, 888 reports 12.1 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 26% since 30 June 2011-

  • Number of active customers B2C Casino and Poker at 505,000 (Q2/2011: 342,000), a 48% increase compared to Q2/2011

  • Quarterly revenue B2C per active Casino and Poker customer was US$121, a 14% decrease compared to Q2/2011

  • Quarterly revenue B2C per active Casino customer was US$221, a 1% decrease compared to Q2/2011

  • Quarterly revenue B2C per active Poker customer was US$53 a 3% decrease compared to Q2/2011

  • Dragonfish: Revenue B2B at US$12 million (Q2/2011: US$12 million), a decrease of 5% year-on-year

Company results for the first half of the year ending June 30th were:

  • Group revenue up 21% to US$186 million (H1/2011: US$154 million)

  • Overall Revenue B2C up 25% to US$164 million (H1/2011: US$131 million)

  • Revenue B2C Casino up 20% to US$83 million (H1/2011: US$69 million)

  • Revenue B2C Poker up 72% to US$41 million (H1/2011: US$24 million)

  • Revenue B2C Bingo down 2% to US$27 million (H1/2011: US$28 million)

  • Revenue B2C Emerging Offering up 20% to US$12 million (H1/2011: US$10 million)

  • Dragonfish revenue B2B down 1% to US$23 million (H1/2011: US$23 million)

Commenting on his company's performance during the quarter, 888 Holdings CEO Brian Mattingley said: "While the second quarter of the year saw a return to historical seasonal revenue patterns, revenue increased 17 per cent y-o-y supported by targeted marketing campaigns and market-leading customer relationship management. We have the right product offering and back office capabilities to grow and sustain market share, as indicated by the success in building a significant market share in the newly regulated Spanish poker market."

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