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888 Releases Fourth Quarter 2012 Financials

Internet wagering group 888 Holdings has released its financial results for the fourth quarter of 2012, noting increases in revenues and growth all across the board.

Key financial indicators for the reporting period were:

  • Revenue $97 million (Q4,2011: $91 million), an increase of 7%

  • Revenue B2C at $86 million (Q4,2011: $79 million), an increase of 9%

  • Revenue B2C Casino at $44 million (Q4,2011: $42 million), an increase of 6%

  • Revenue B2C Poker at $24 million (Q4,2011: $19 million), an increase of 31%

  • Revenue B2C Bingo at $12 million (Q4,2011: $13 million), a decline of 11% due to challenging and competitive market conditions

  • Revenue B2C Emerging Offering at $6 million (Q4,2011: $6 million), a decrease of 3% due to weak sport margins in December

  • Number of active customers B2C Casino and Poker at 520,000, an increase of 9% compared to Q4,2011

  • Number of active customers B2C Casino at 196,000, a decrease of 12% compared to Q4,2011

  • Number of active customers B2C Poker at 390,000, an increase of 22% compared to Q4,2011

  • Quarterly revenue B2C per active Casino and Poker customer was $132, a 5% increase compared to Q4,2011

  • Quarterly revenue B2C per active Casino customer was $226, a 22% increase compared to Q4,2011

  • Quarterly revenue B2C per active Poker customer was $62 a 7%r increase compared to Q4,2011

    Dragonfish (B2B operations)

  • Revenue B2B at $12 million (Q4,2011: $12 million), a decrease of 3% year-on-year

  • Revenue up 13% to $376 million (2011: $331 million)

B2C

  • Revenue B2C up 16% to $330 million (2011: $284 million)

  • Revenue B2C Casino up 12% to $165 million (2011: $148 million)

  • Revenue B2C Poker up 44% to $88 million (2011: $61 million)

  • Revenue B2C Bingo down 4% to $52 million (2011: $54 million)

  • Revenue B2C Emerging Offering up 16% to $25 million (2011: $22 million)

Dragonfish

  • Revenue B2B down 2% to $46 million (2011: $47 million)

Commenting on his company's performance 888 CEO Brian Mattingley said: "The quarter ended an excellent year of performance for 888, as we achieved record revenues in both the quarter and the year as a whole. This success was driven by our core Casino and Poker offerings, as well as our activities in newly regulated markets."

"Our success in Spain and Italy shows that we have the right product and technology-led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories."

"In addition we are experiencing a significant increase in customer recruitment and revenue from mobile platforms and, given our focus and commitment to investment in mobile, see this is as just the beginning of an increasing trend. 2013 has started strongly and we therefore remain confident of future growth."

"The first quarter of 2013 has started well, continuing the strong performance of 2012, with daily average revenue during January more than seven percent above January 2012, coupled with a strong increase in customer deposits, bets and customer acquisition levels."

"The high performance is driven primarily by Poker and newly regulated markets and is leveraged by our recent successful targeted marketing campaigns, ongoing focus on customer retention and increased investment in our mobile offering."

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