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888 Releases Third Quarter 2012 Financial Results

Internet wagering firm 888 Holdings has announced the release of its third quarter 2012 financial results.

Key financial indicators for the period were:

  • Group revenue $92 million (Q3,2011: $86 million), an increase of 7% year on year

  • Revenue B2C U$80 million (Q3,2011: $74 million), an increase of 8% year on year

  • Revenue B2C Casino $38 million (Q3,2011: $37 million), an increase of 2% year on year

  • Number of active customers B2C Casino at 158,000, a decrease of 21% compared to Q3,2011

  • Quarterly revenue B2C per active Casino customer was $241, a 29% increase compared to Q3,2011

  • Revenue B2C Poker $22 million (Q3,2011: $18 million), an increase of 21% year on year

  • Number of active customers B2C Poker at 349,000, an increase of 14% compared to Q3,2011

  • Quarterly revenue B2C per active Poker customer was $63 a 6% increase compared to Q3,2011

  • Quarterly revenue B2C per active Casino and Poker customer was $133, a 5% increase compared to Q3,2011

  • Revenue B2C Bingo at $13 million (Q3,2011: $13 million), stable year-on-year

  • Revenue B2C Emerging Offering U$7 million (Q3,2011: $5 million), an increase of 27% year on year

  • Group revenue during the first three quarters of 2012 at $278 million (2011: $240 million), an increase of 16%

  • Number of active customers B2C Casino and Poker at 454,000 (Q3,2011: 442,000), a 3% increase compared to Q3,2011

  • As at 30 September 2012, 888 had 12.5 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 24% since 30 September 2011

  • Revenue B2C Bingo at US$13 million (Q3,2011: US$13 million), stable year-on-year

  • As at 12th October 2012 the Group had $81 million of cash and cash equivalents, and $46 million liabilities to customers.

Commenting on the results, 888 CEO Brian Mattingley said:

“Our core business has continued to perform well during the quarter, with our targeted marketing campaigns contributing towards our on-going success and Spain out-performing our expectations."

"The final quarter has started positively with average daily revenues more than seven percent. ahead of the strong Q4,2011. A disciplined approach to our costs, and our analytics driven marketing spend proving highly efficient, means we now expect our EBITDA for the full year to be significantly ahead of current market expectations.”

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