STRONG SET OF Q4 RESULTS FROM ONLINE GAMBLING GROUP

10 February 2012

888 Holdings posts some generally impressive numbers  

Online gambling group 888 Holdings plc posted an impressive set of Q4-2011 results Tuesday, highlighting:

* Group revenue US$91 million (Q4 2010: US$71 million), an increase of 28 percent year-on-year and 6 percent increase on Q3 2011, led by B2C Poker and Casino, beating the previous records set in that quarter

* Revenue B2C US$79 million (Q4 2010: US$60 million), an increase of 32 percent year-on-year and 7 percent increase compared to Q3 2011, continuing the strong momentum in Poker and Casino

* Revenue B2C Casino US$42 million (Q4 2010: US$31 million), an increase of 34 percent year-on-year and 11 percent increase compared to Q3 2011 driven by strong customer recruitment and retention

* Revenue B2C Poker US$19 million (Q4 2010: US$11 million), an increase of 76 percent year-on-year and 2 percent increase compared to Q3 2011, driven by the continuing success of the Poker 6 platform and effective customer retention activities

* Revenue B2C Emerging Offering US$6 million (Q4 2010: US$4 million), an increase of 36 percent year-on-year and 9 percent increase compared to Q3 2011

* Group revenue in full year 2011 reached US$331 million (2010: US$262 million), the highest on record, representing an increase of 26%

* Number of active customers B2C Casino and Poker at 478,000 (Q4 2010: 283,000), a 69 percent increase

* As at 31 December 2011, 888 had 10.6 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 22 percent from 31 December 2010

* First strand in US strategy with Caesars Interactive Entertainment B2B deal expanded into the US market

* New Casino product being released

* Strong current trading continues into 2012 first quarter

Key Performance Indicators in Q4 included:

Group

* Revenue US$91 million (Q4 2010: US$71million), an increase of 28 percent

* As at 31 December 2011, 888 had 10.6 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 22 percent from 31 December 2010

B2C

* Revenue B2C at US$79 million (Q4 2010: US$60 million), an increase of 32 percent

* Revenue B2C Casino at US$42 million (Q4 2010: US$31 million), an increase of 34 percent

* Revenue B2C Poker at US$19 million (Q4 2010: US$11 million), an increase of 76 percent

* Revenue B2C Bingo at US$13 million (Q4 2010: US$14 million), a decrease of 7 percent, a result of a saturated and highly competitive UK online bingo market

* Revenue B2C Emerging Offering at US$6 million (Q4 2010: US$4 million), an increase of 36 percent

* Number of active customers B2C Casino and Poker at 478,000, an increase of 69 percent compared to Q4 2010

* Number of active customers B2C Casino at 224,000, an increase of 81 percent compared to Q4 2010

* Number of active customers B2C Poker at 318,000, an increase of 58 percent compared to Q4 2010

* Quarterly revenue B2C per active Casino and Poker customer was US$126, a 14 percent decrease compared to Q4 2010

* Quarterly revenue B2C per active Casino customer was US$186, a 26 percent decrease compared to Q4 2010, a result of significant expansion in new customer recruitment coupled with a significant, but slower, revenue increase

* Quarterly revenue B2C per active Poker customer was US$58 an 11 percent increase compared to Q4 2010

Dragonfish B2B

* Revenue B2B at US$12 million (Q4 2010: US$11 million), an increase of 6 percent

The company also posted its full year results to end December 2011:

* Group Revenue up 26 percent to US$331 million (2010: US$262 million)

B2C

* Revenue B2C up 28 percent to US$284 million (2010: US$222 million)

* Revenue B2C Casino up 27 percent to US$148 million (2010: US$117 million)

* Revenue B2C Poker up 58 percent to US$61 million (2010: US$38 million)

* Revenue B2C Bingo up 8 percent to US$54 million (2010: US$50 million)

* Revenue B2C Emerging Offering up 33 percent to US$22 million (2010: US$16 million)

Dragonfish B2B

* Revenue B2B up 16 percent to US$47 million (2010: US$40 million)

Current Trading

Trading in 2012 continues at record levels, the company reports. Average daily revenue during the first 35 days of Q1 2012 was 25 percent higher than the average during January 2011 and 2 percent higher than the average during the record Q4 2011.

Daily average new customer recruitment increased by more than 25 percent compared to Q4 2011 and daily average deposits continued at the high levels of Q4 2011.

As at 30th January 2011 the 888 group had US$83 million of cash and cash equivalents, and US$45 million liabilities to customers.

Brian Mattingley, deputy chairman of the group, said:

"We are delighted with 888's strong performance over the last year and in particular Q4. Q4 revenue is the highest on record, and represents five consecutive quarters of revenue growth. Strong trading was led by an excellent performance in our B2C Casino & Poker, and is the successful result of an increased strategic focus on our core competencies and the stand out success of Poker 6.

Current trading in January continues to be strong and the forthcoming launch of our exciting new Casino product provides yet another compelling offer for our loyal customer base. We believe our focused strategy, aligned with the selective B2B approach, will continue to drive growth in 2012."

Online Casino News Courtesy of Infopowa

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