Q1 KPIs and IMS

RNS Number : 9538C

888 Holdings plc

23 April 2013

 



23 April 2013                                                                                

888 Holdings Public Limited Company

("888" or "the Group")

Interim Management Statement
Q1 2013 Key Performance Indicators and Trading Update*

888, one of the world's most popular online gaming entertainment and solutions providers, today issues the following Interim Management Statement for the period from 1 January 2013 to 23 April 2013. Unless otherwise stated, trends and figures highlighted below refer to the three months ended 31 March 2013 and the corresponding period last year.

Highlights

·      Group revenue a record US$103 million (Q1 2012: US$94 million), an increase of 9% year on year

·      Revenue B2C US$92 million (Q1 2012: US$83 million), an increase of 10% year on year

·      Revenue B2C Casino US$48 million (Q1 2013: US$42 million), an increase of 13% year on year boosted by the launch of slots in Italy

·      Revenue B2C Poker US$24 million (Q1 2012: US$21 million), an increase of 15% year on year driven by successful winter marketing campaigns

·      Revenue B2C Emerging Offering US$8 million (Q1 2012: US$6 million), an increase of 27% year on year driven by stronger Sport margins

·      Number of active customers B2C Casino and Poker at 634,000 (Q1 2012: 566,000), a 12% increase year on year

·      As at 31 March 2013, 888 had 13.8 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 23% since 31 March 2012

Commenting on today's announcement Brian Mattingley, Chief Executive Officer, said:

"These are a fantastic set of results across all key metrics. Our excellent product offering, supported by our constantly innovative marketing and CRM capabilities, has helped us to deliver consistent growth and has positioned us well to take advantage of positive regulatory developments."

* All percentages in this release are calculated without rounding

Key Performance Indicators

First Quarter 2013

Group

·      Revenue at US$103 million (Q1 2012: US$94 million), an increase of 9%

·      As at 31 march 2013, 888 had 13.8 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 23% since 31 March 2012

B2C

·      Revenue B2C at US$92 million (Q1 2012: US$83 million), an increase of 10%

·      Revenue B2C Casino at US$48 million (Q1 2012: US$42 million), an increase of 13%

·      Revenue B2C Poker at US$24 million (Q1 2012: US$21 million), an increase of 15%

·      Revenue B2C Bingo at US$12 million (Q1 2012: US$14 million), a decrease of 12%

·      Revenue B2C Emerging Offering at US$8 million (Q1 2012: US$6 million), an increase of 27%

·      Number of active customers B2C Casino and Poker at 634,000, an increase of 12% compared to Q1 2012

·      Number of active customers B2C Casino at 236,000, an increase of 3% compared to Q1 2012

·      Number of active customers B2C Poker at 474,000, an increase of 17% compared to Q1 2012

·      Quarterly revenue B2C per active Casino and Poker customer was US$113, a 1% increase compared to Q1 2012

·      Quarterly revenue B2C per active Casino customer was US$202, a 9% increase compared to Q1 2012

·      Quarterly revenue B2C per active Poker customer was US$52 a 1% decrease compared to Q1 2012

Dragonfish

·      Revenue B2B at US$11 million (Q1 2012: US$11 million), flat year-on-year

Current Trading

The second quarter has started in line with expectations where trading reflects the historical seasonal pattern. Daily average revenue during the first 20 days of April is more than 3% above April 2012. Our performance continues to be led by our core casino and poker products and we are continuing to experience increases in customer deposits, bets and first time depositors.

As at 19^th April 2013 the Group had US$89* million of cash and cash equivalents and US$50 million liabilities to customers.

* This amount excludes short term investment deposits (amounting to US$3.5 million) which prior to the release of the 2012 financial statements were reported within cash and cash equivalents.

Analyst and Investor Conference Call

There will be an analyst and investor conference call at 10.30am (BST) today.

Dial-in number:	[phone]
Passcode:	8939488
Replay number:	[phone]
Replay passcode:	8939488

Contacts and enquiries

888
Brian Mattingley, Chief Executive Officer	[phone]
Aviad Kobrine, Chief Financial Officer	[phone]
M:Communications
Ann-marie Wilkinson/Andrew Benbow	[phone]

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements in this announcement reflect 888's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, 888 undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

Appendix

US$m*	2012				2013
	Q1	Q2	Q3	Q4	Q1
B2C Revenue
Casino	42.2	40.9	38.2	44.2	47.6
Poker	21.2	20.1	21.9	24.3	24.4
Bingo	13.6	13.4	13.3	11.6	11.9
Emerging Offering	6.2	6.1	6.9	5.8	7.9
Total  Revenue B2C	83.2	80.5	80.3	85.9	91.8
B2C KPI
Revenue Casino US$m	42.2	40.9	38.2	44.2	47.6
Active Players Casino (000)	227.8	185.0	158.5	195.9	235.5
Revenue Casino per active player US$	$ 185	$ 221	$ 241	$ 226	$ 202
Revenue Poker US$m	21.2	20.1	21.9	24.3	24.4
Active Players Poker (000)	405.3	377.6	349.5	389.7	473.6
Revenue Poker per active player US$	$ 52	$ 53	$ 63	$ 62	$ 52
Revenue Casino & Poker US$m	63.4	61.0	60.1	68.5	72.0
Active  Players Casino & Poker (000)	566.4	504.9	453.7	520.5	634.4
Revenue Casino & Poker per active player US$	$ 112	$ 121	$ 133	$ 132	$ 113
B2B Revenue
Revenue B2B	11.2	11.6	11.6	11.6	11.2
Revenue	94.4	92.1	91.9	97.5	102.9

*Rounded.

 

END

 

 

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