Internet wagering operator 888 Holdings has released its latest financial results, noting increased revenues which are driven by casino and poker operations.
Key financial indicators for the period ending June 30th, 2013 were:
H1-2013 revenue increased 7% to US$200.1 million (H1,2012: US$186.4 million)
B2C revenue increased 8% to US$177 million (H1,2012: US$163.6 million)
Adjusted EBITDA increased 7% to US$38.6 million (H1,2012: US$36 million)
Adjusted EBITDA margin maintained at 19.3%
PAT increased 205% to US$32.1 million (H1,2012: US$15.7 million)
Adjusted EPS increased 37% to 9.9 cents per share (H1,2012: 7.2 cents)
Interim dividend of 3 cents per ordinary share (H1,2012: 2.5 cents)
Company highlights for the half year were:
Casino up 13% to $94.1 million; Poker up 13% to $46.8 million; Bingo doiwn 18% at $22.1 million and emerging offdering up 13% at $13.9 million.
Poker reached number four in global PokerScout rankings.
Excellent casino performance driven by CRM activity.
Agreement with Kambi Sports Solutions to develop 888sport app.
Mobile now fastest growing channel across all products representing 17% of UK revenue.
Excellent success in Spain and Italy with further growth opportunities.
JV agreement signed in March with Avenue Capital Group creating the All American Poker Network (AAPN) to launch comprehensive B2C gaming offering in US market upon regulation.
Approval as Interactive Gaming Service provider by the Nevada Gaming Commission.
Commenting on his company's performance 888 CEO Brian Mattingley said, "We are making good progress in new markets with tremendous success in Spain and Italy where we see further opportunities for growth. These experiences have given us further confidence in our ability to capitalize on the exciting US opportunity which continues to develop and we believe our strategy and partnerships ensure that we are well positioned to maximize market share as that market becomes regulated."