888 show strong quarterly results

888 Holdings annouced strong second quarter results this week showing double digit growth across the board with the exception of its bingo business & the Dragonfish B2B arm.
Main points of the report were:

Group revenue US$92 million an increase of 17%

Revenue B2C US$80 million an increase of 21%

Revenue B2C Casino US$41 million an increase of 15%

Revenue B2C Poker US$20 million an increase of 59%, primarily boosted by ongoing product improvements, targeted marketing & effective CRM

Revenue B2C Bingo at US$13 million no change

Revenue B2C Emerging Offering at US$6 million an increase of 27%

Dragonfish: Revenue B2B at US$12 million a fall of 5%

The company is upbeat on its performance in the newly regulated Spanish market & the strategic agreement it signed with WMS during the quarter.

Group revenue up 21% to US$186 million

Dragonfish revenue B2B down 1% to US$23 million

Brian Mattingley, Chief Executive Officer of 888 Holdings commented:

“While the second quarter of the year saw a return to historical seasonal revenue patterns, revenue increased 17 per cent y-o-y supported by targeted marketing campaigns & market-leading customer relationship management. We have the right product offering & back office capabilities to grow & sustain market share, as indicated by the success in building a significant market share in the newly regulated Spanish poker market.”

The firm said the start of its third quarter trading is in line with expectation delivering average daily revenue during the first 24 days of July 10 percent above those recorded in July 2011.

It expects to see the effect of seasonality in the remainder of the third quarter, & the impact of the Olympic Games in London remains unknown.