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888 Releases Positive Third Quarter Financial Results

Internet betting giant 888 Holdings plc has released its third quarter 2013 financial results, noting an increase in revenues and large casino growth.

Key financial indicators for the period ending September 30th, 2013 were:

  • Group revenue at US$94 million (Q3,2012: US$92 million), an increase of 2% year on year

  • Revenue B2C at US$83 million (Q3,2012: US$80 million), an increase of 3% year on year

  • Revenue B2C Casino at US$45 million (Q3,2012: US$38 million), an increase of 19% year on year driven by regulated markets, mobile and product offering

  • Revenue B2C Poker at US$22 million (Q3,2012: US$22 million), an increase of 0.4% year on year reflecting further market share gains and advancing to third place in global poker rankings.

  • Group revenue during the first three quarters of 2013 at US$294 million (2012: US$278 million), an increase of 6% year on year

  • Revenue B2C during the first three quarters of 2013 at US$260 million (2012: US$244 million), an increase of 6% year on year

  • Number of active customers B2C Casino and Poker at 498,000 (Q3,2012: 454,000), a 10% increase year on year

  • As at 30 September 2013, 888 had 14.9 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 19% since 30 September 2012

Commenting on his company's performance, 888 CEO Brian Mattingley said, "I am pleased to report another strong performance with group revenues up year on year primarily driven by casino. We continue to build customer numbers and take market share, reflecting our strong product offer, excellent platforms and marketing systems."

"This quarter has seen further progress in newly regulated global markets. In the US, the launch of the World Series of Poker in Nevada marked the start of our first regulated real money offer in the US and through our AAPN joint venture we have also entered into a partnership with Wynn Interactive for the development and deployment of Wynn's online offering in New Jersey, Nevada and additional states, as they become regulated."

"Trading is in line with the Board's expectations and we remain confident in the outcome for the year."

For the first nine months of the year, group financial numbers are:

  • Group revenue up 6% to US$294 million (2012: US$278 million)

  • Revenue B2C up 6% to US$260 million (2012: US$244 million)

  • Revenue B2C Casino up 15% to US$140 million (2012: US$121 million)

  • Revenue B2C Poker up 9% to US$69 million (2012: US$63 million)

  • Revenue B2C Bingo down 19% to US$33 million (2012: US$40 million)

  • Revenue B2C Emerging Offering down 3% to US$19 million (2012: US$19 million)

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