Q2 KPIs and IMS

RNS Number : 2316O

888 Holdings plc

05 August 2014

 



5 August 2014                                                                                

888 Holdings Public Limited Company

("888" or "the Group")

Interim Management Statement
Q2 2014 Key Performance Indicators and Interim Management Statement*

888, one of the world's most popular online gaming entertainment and solutions providers, is today publishing its Interim Management Statement for the period from 1 April 2014 to the date of this announcement, incorporating the Group's second quarter trading period from 1 April 2014 to 30 June 2014.

Q2 & H1 2014 Highlights

·      Q2 Group revenue was US$111 million (Q2 2013: US$97 million), an increase of 15% year on year

·      Q2 revenue B2C was US$95 million (Q2 2013: US$85 million), an increase of 11% year on year

·      Q2 revenue B2C Casino was US$53 million (Q2 2013: US$47 million), an increase of 15% year on year, capitalizing on best in class CRM and back office technology

·      Q2 revenue B2C Poker was US$23 million (Q2 2013: US$22 million), an increase of 2% year on year, maintaining the Group's no. 2 position in global liquidity rankings**

·      Q2 revenue B2C Bingo was US$12 million (Q2 2013: US$10 million), an increase of 17% year on year, demonstrating a recovery in our Bingo operations

·      Q2 revenue B2C Emerging Offering was US$7 million (Q2 2013: US$6 million), an increase of 15% year on year, boosted by strong Sport performance

·      Q2 revenue B2B was US$16 million (Q2 2013: US$12 million), an increase of 37% year on year driven by US operations and Bingo

·      Another record Group performance, revenue in H1 was US$225 million (H1 2013: US$200 million), an increase of 13% year on year

·      As at 30 June 2014, 888 had 16.8 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 17% from 30 June 2013

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

"I am pleased to report that 888 has delivered another strong performance in the second quarter which, in combination with our very good start to the year, has once again resulted in record-breaking revenue for H1. This outcome has been driven by strong performances across both our B2C and B2B lines of business and is testament to our exceptional brands, technology, marketing and CRM systems. Whilst the outcome for the full year will be dependent on trading in the second half, we continue to look forward with confidence as we further develop the business."

* All percentages in this release are calculated without rounding

**According to global ranking site PokerScout

Q2 2014 Key Performance Indicators

Group

·      Revenue was US$111 million (Q2 2013: US$97 million), a year on year increase of 15%

·      As at 30 June 2014, 888 had 16.8 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 17% from 30 June 2013

B2C

·      Revenue B2C was US$95 million (Q2 2013: US$85 million), a year on year increase of 11%

·      Revenue B2C Casino was US$53 million (Q2 2013: US$47 million), a year on year increase of 15%

·      Revenue B2C Poker was US$23 million (Q2 2013: US$22 million), a year on year increase of 2%

·      Revenue B2C Bingo was US$12 million (Q2 2013: US$10 million), a year on year increase of 17%

·      Revenue B2C Emerging Offering was US$7 million (Q2 2013: US$6 million), a year on year increase of 15%

·      Number of active customers B2C Casino and Poker at 579,000 (Q2 2013: 535,000), an increase of 8% compared to Q2 2013

·      Number of active customers B2C Casino at 200,000 (Q2 2013: 186,000), an increase of 8% compared to Q2 2013

·      Number of active customers B2C Poker at 459,000 (Q2 2013: 410,000), an increase of 12% compared to Q2 2013

·      Quarterly revenue B2C per active Casino and Poker customer was US$131 (Q2 2013: US$129), a 2% increase year on year

·      Quarterly revenue B2C per active Casino customer was US$267 (Q2 2013: US$250), a 6% increase year on year

·      Quarterly revenue B2C per active Poker customer was US$50 (Q2 2013: US$55), a 9% decrease year on year

Dragonfish

·      Revenue B2B was US$16 million (Q2 2013: US$12 million), an increase of 37% year on year driven by our US operations and Bingo

Key Performance Indicators for Six months ended 30 June 2014

Group

·      Revenue was US$225 million (H1 2013: US$200 million), a year on year increase of 13%

B2C

·      Revenue B2C was US$193 million (H1 2013: US$177 million), a year on year increase of 9%

·      Revenue B2C Casino was US$108 million (H1 2013: US$94 million), a year on year increase of 14%

·      Revenue B2C Poker was US$48 million (H1 2013: US$47 million), a year on year increase of 3%

·      Revenue B2C Bingo was US$24 million (H1 2013: US$22 million), a year on year increase of 9%

·      Revenue B2C Emerging Offering was US$13 million (H1 2013: US$14 million), a year on year decrease of 6%

Dragonfish

·      Revenue B2B was US$32 million (H1 2013: US$23 million), an increase of 40% year on year driven by our US operations and Bingo

Current Trading

Trading during the third quarter has continued to be strong, with revenue during July 2014 more than 15% higher than July 2013.

As at 1 August 2014, the Group had US$118 million of cash and cash equivalents and US$56 million liabilities to customers.

Analyst and Investor Conference Call

There will be an analyst and investor conference call at 14.00 (BST) today.

Dial-in number:	[phone]
Passcode:	5080685
Replay number:	[phone]
Replay passcode:	5080685

Contacts and enquiries

888
Brian Mattingley, Chief Executive Officer	[phone]
Aviad Kobrine, Chief Financial Officer	[phone]
Hudson Sandler	[phone]
Alex Brennan / Michael Sandler

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$m*	2013				2014
	Q1	Q2	Q3	Q4	Q1	Q2
B2C Revenue
Casino	47.6	46.5	45.4	50.9	54.3	53.3
Poker	24.4	22.5	22.0	24.7	25.3	22.8
Bingo	11.9	10.2	10.4	11.1	12.1	11.9
Emerging Offering	7.9	6.0	4.7	5.9	6.1	6.9
Total  Revenue B2C	91.8	85.2	82.5	92.7	97.8	95.0
B2C KPI
Revenue Casino US$m	47.6	46.5	45.4	50.9	54.3	53.3
Active Players Casino (000)	235.5	185.8	172.1	198.9	226.1	200.0
Revenue Casino per active player US$	$ 202	$ 250	$264	$256	$240	$267
Revenue Poker US$m	24.4	22.5	22.0	24.7	25.3	22.8
Active Players Poker (000)	473.6	409.8	385.1	472.5	537.1	458.9
Revenue Poker per active player US$	$ 52	$ 55	$ 57	$ 52	$ 47	$ 50
Revenue Casino & Poker US$m	72.0	69.0	67.4	75.6	79.6	76.1
Active  Players Casino & Poker (000)	634.4	534.7	498.3	601.7	681.8	579.4
Revenue Casino & Poker per active player US$	$ 113	$ 129	$ 135	$ 126	$ 117	$ 131
B2B Revenue
Revenue B2B	11.2	11.9	11.2	14.1	16.0	16.3
Revenue	102.9	97.1	93.7	106.8	113.8	111.3

              *Rounded.

 

END

 

 

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