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Internet gaming giant 888 Holdings plc has released its full year 2012 fiscal results, noting positive growth in company wide revenues.
Key financial indicators for the period ending December 31st, 2012 were:
Revenue increased 13% to $376 million (2011: $331 million)
B2C Revenue increased 16% to $330 million (2011: $284 million)
Adjusted EBITDA increased 20% to $67 million (2011: $56 million)
Adjusted EBITDA margin rose to 17.8% (2011: 16.8%)
Final dividend reinstated at 4.5 cents per ordinary share per the group's payout ratio, and due to strong performance the Board has sanctioned an additional one-off dividend of 2 cents per share, bringing the total dividend per share for the year to 9 cents per share
As at 31 December 2012, 888 had 13.1 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 23% since 31 December 2011
The various department revenues for the firm were as follows:
Casino revenues up 12% to $165.5 million
Poker revenues up 44% to $87.5 million
Bingo revenues down 4% to $51.8 million
Emerging offering up 16% to 25 million
B2B revenues down 2% to $46 million
Corporate highlights for the year were:
Significant market share built in Spain following award of Spanish e-gaming licence in June 2012
In January extended relationship with Caesars to power a number of that company's poker brands including the "World Series of Poker" into the US, once regulated
Strategic agreement signed with WMS in July 2012, enabling WMS to offer an online product to all its customers utilising 888's state of the art poker platform
Agreement signed with Facebook to launch real-money products in the UK
Slots successfully introduced in Italy in December 2012
Significant increase in customer recruitment and revenue from mobile platforms following launch of multi-platform mobile suite and apps
Commenting on his company's performance, 888 CEO Brian Mattingley said:
"2012 was an exceptional year for 888. The ongoing focus on our core strengths and the customer proposition, coupled with the very positive effects of our targeted marketing campaigns, has led to tremendous growth in player numbers and record results."
"Our performance in Spain and Italy indicates that we have a compelling offering marketed in such a way that we are able to build significant market share in newly regulating territories, something that places us in a very exciting position as the US market begins to open for business."
"Led by the long-awaited re-opening of the US market, from which we are uniquely well placed to benefit, 2013 is a year of significant opportunity and we have the right deals in place, both B2B and B2C, to gain a substantial foothold in the US."
"Growth in mobile gaming is also changing the industry, and our efforts in 2012 have allowed us to take advantage of the new ways in which people wish to play. We expect to see further growth in this area in 2013 and thus we remain confident in the outlook for 2013 and beyond."
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