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888.com Publishes Fourth Quarter 2014 Results

Internet betting giant 888 Holdings plc has released its financial results for the fourth quarter of 2014, noting an all time high for quarterly gross revenues.

Key financial highlights for the period ending December 31st, 2013 were:

  • Group quarterly revenue reached an all-time high of US$107 million (Q4,2012: US$97 million), an increase of 10% year on year and a 14% increase vs. Q3-2013 reflecting revenue increases in each of the Group's reporting segments compared to Q3,2013.

  • Business to consumer revenue at US$93 million (Q4,2012: US$86 million), an increase of 8% year on year

  • Revenue B2C Casino at US$51 million (Q4,2012: US$44 million), an increase of 15% year on year, supported by enhanced product offering, extended regulated markets proposition, advanced CRM initiatives and further mobile penetration

  • Revenue B2C Poker at US$25 million (Q4,2012: US$24 million), an increase of 2% year-on-year reflecting further market share gains and advancing to number 2 in the global poker rankings.

  • Successfully launches in the regulated New Jersey and Delaware markets in November 2013.

Full year highlights for the year were:

  • Group revenue for full year 2013 at a record US$401 million (2012: US$376 million), an increase of 7% y-o-y

  • Revenue B2C for full year 2013 at US$352 million (2012: US$330 million), an increase of 7% y-o-y

  • Number of active customers B2C Casino and Poker at 602,000 (Q4,2012: 520,000), a 16% increase y-o-y. As at 31 December 2013, 888 had 15.5 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 19% since 31 December 2012.

  • Significant progress made in the US market through the group's All American Poker Network (AAPN) joint venture, with Avenue Capital making 888 the only online gaming provider live in all three regulated states.

Commenting on his company's performance, 888 CEO Brian Mattingley said, "I am pleased to report that 888 has delivered another strong performance in Q4, completing an excellent and indeed record-breaking year for the Group in terms of revenue. Our strong result has again been driven by the progress we have made in newly regulated markets as well as a continued excellent performance in Casino and further market share gains in Poker, where we are now ranked Number 2 in the Pokerscout global rankings."

"During Q4 we successfully launched in New Jersey and Delaware, making us the only operator live in all three regulated US states, with our Poker platforms achieving market-leading positions in New Jersey, Nevada and Delaware. This remarkable achievement is testament to the strength of our product, technology and marketing as well as the hard work, dedication and talent of our team."

"We have continued to enhance our mobile and tablet product offering in this increasingly important growth sector of the industry and source of customer acquisition. This has contributed to the Group delivering a very pleasing 19% increase year on year in real money registered customer accounts across Casino, Poker and Sport."

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