Q3 KPIs and IMS

RNS Number : 5971Q

888 Holdings plc

16 October 2013

 



16 October 2013

888 Holdings Public Limited Company

("888" or "the Group")

Interim Management Statement
Q3 2013 Key Performance Indicators and Trading Update*

888, one of the world's most popular online gaming entertainment and solutions providers, is pleased to provide the following trading update for the third quarter of 2013.

Financial Highlights

·      Group revenue at US$94 million (Q3 2012: US$92 million), an increase of 2% year on year

·      Revenue B2C at US$83 million (Q3 2012: US$80 million), an increase of 3% year on year

·      Revenue B2C Casino at US$45 million (Q3 2012: US$38 million), an increase of 19% year on year driven by regulated markets, mobile and product offering

·      Revenue B2C Poker at US$22 million (Q3 2012: US$22 million), an increase of 0.4% year on year reflecting further market share gains and advancing to number 3 in the global poker rankings**

·      Group revenue during the first three quarters of 2013 at US$294 million (2012: US$278 million), an increase of 6% year on year

·      Revenue B2C during the first three quarters of 2013 at US$260 million (2012: US$244 million), an increase of 6% year on year

·      Number of active customers B2C Casino and Poker at 498,000 (Q3 2012: 454,000), a 10% increase year on year

·      As at 30 September 2013, 888 had 14.9 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 19% since 30 September 2012

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

"I am pleased to report another strong performance with Group revenues up year on year primarily driven by Casino. We continue to build customer numbers and take market share, reflecting our strong product offer, excellent platforms and marketing systems.

This quarter has seen further progress in newly regulated global markets. In the US, the launch of the World Series of Poker in Nevada marked the start of our first regulated real money offer in the US and through our AAPN joint venture we have also entered into a partnership with Wynn Interactive for the development and deployment of Wynn's online offering in New Jersey, Nevada and additional states, as they become regulated.

Trading is in line with the Board's expectations and we remain confident in the outcome for the year."

* All percentages in this release are calculated without rounding

** Published by pokerscout.com

Key Performance Indicators

Third Quarter 2013

Group

·      Revenue at US$94 million (Q3 2012: US$92 million), an increase of 2%

·      As at 30 September 2013, 888 had 14.9 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 19% since 30 September 2012

B2C

·      Revenue B2C at US$83 million (Q3 2012: US$80 million), an increase of 3%

·      Revenue B2C Casino at US$45 million (Q3 2012: US$38 million), an increase of 19%

·      Revenue B2C Poker at US$22 million (Q3 2012: US$22 million), an increase of 0.4%

·      Revenue B2C Bingo at US$10 million (Q3 2012: US$13 million), a decrease of 21%

·      Revenue B2C Emerging Offering at US$5 million (Q3 2012: US$7 million), a decrease of 33% 

·      Number of active customers B2C Casino and Poker at 498,000 (Q3 2012: 454,000), an increase of 10% compared to Q3 2012

·      Number of active customers B2C Casino at 172,000 (Q3 2012: 158,000), an increase of 9% compared to Q3 2012

·      Number of active customers B2C Poker at 385,000 (Q3 2012: 349,000), an increase of 10% compared to Q3 2012

·      Quarterly revenue B2C per active Casino and Poker customer was US$135 (Q3 2012: US$133), a 2% increase compared to Q3 2012

·      Quarterly revenue B2C per active Casino customer was US$264 (Q3 2012: US$241), a 9% increase compared to Q3 2012

·      Quarterly revenue B2C per active Poker customer was US$57 (Q3 2012: US$63) a 9% decrease compared to Q3 2012

Dragonfish

·      Revenue B2B at US$11 million (Q3 2012: US$12 million), a decrease of 4% compared to Q3 2012

Nine months ended 30 September 2013

Group

·      Revenue up 6% to US$294 million (2012: US$278 million)

B2C

·      Revenue B2C up 6% to US$260 million (2012: US$244 million)

·      Revenue B2C Casino up 15% to US$140 million (2012: US$121 million)

·      Revenue B2C Poker up 9% to US$69 million (2012: US$63 million)

·      Revenue B2C Bingo down 19% to US$33 million (2012: US$40 million)

·      Revenue B2C Emerging Offering down 3% to US$19 million (2012: US$19 million)

Dragonfish

·      Revenue B2B down 1% to US$34 million (2012: US$34 million)

Current Trading

Trading during the first two weeks of the fourth quarter has been stronger than in the previous quarter and the equivalent period in the prior year, especially in Casino. Daily average revenue for the first 13 days of the quarter is higher by approximately 2 per cent than the corresponding period in the previous year.

As at 11^th October 2013 the Group had US$100 million of cash and cash equivalents and US$53 million liabilities to customers.

We remain confident of continued progress and of meeting full year expectations.

Analyst and Investor Conference Call

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

Dial-in number:	[phone]
Passcode:	8765672
Replay number:	[phone]
Replay passcode:	8765672

Contacts and enquiries

888
Brian Mattingley, Chief Executive Officer	[phone]
Aviad Kobrine, Chief Financial Officer	[phone]
Hudson Sandler	[phone]
Kate Hoare
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$m*	2012				2013
	Q1	Q2	Q3	Q4	Q1	Q2	Q3
B2C Revenue
Casino	42.2	40.9	38.2	44.2	47.6	46.5	45.4
Poker	21.2	20.1	21.9	24.3	24.4	22.5	22.0
Bingo	13.6	13.4	13.3	11.6	11.9	10.2	10.4
Emerging Offering	6.2	6.1	6.9	5.8	7.9	6.0	4.7
Total  Revenue B2C	83.2	80.5	80.3	85.9	91.8	85.2	82.5
B2C KPI
Revenue Casino US$m	42.2	40.9	38.2	44.2	47.6	46.5	45.4
Active Players Casino (000)	227.8	185.0	158.5	195.9	235.5	185.8	172.1
Revenue Casino per active player US$	$ 185	$ 221	$ 241	$ 226	$ 202	$ 250	$264
Revenue Poker US$m	21.2	20.1	21.9	24.3	24.4	22.5	22.0
Active Players Poker (000)	405.3	377.6	349.5	389.7	473.6	409.8	385.1
Revenue Poker per active player US$	$ 52	$ 53	$ 63	$ 62	$ 52	$ 55	$ 57
Revenue Casino & Poker US$m	63.4	61.0	60.1	68.5	72.0	69.0	67.4
Active  Players Casino & Poker (000)	566.4	504.9	453.7	520.5	634.4	534.7	498.3
Revenue Casino & Poker per active player US$	$ 112	$ 121	$ 133	$ 132	$ 113	$ 129	$ 135
B2B Revenue
Revenue B2B	11.2	11.6	11.6	11.6	11.2	11.9	11.2
Revenue	94.4	92.1	91.9	97.5	102.9	97.1	93.7

*Rounded.

 

END

 

 

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